04:37 PM EDT, 07/02/2024 (MT Newswires) -- P2 Gold ( PGLDF ) said Tuesday it elected to pay interest due on a convertible-debenture issue by issuing shares.

The company said under the terms of the convertible debentures issued on March 4 and March 14, 2024, it will pay $39,747.94 in interest owing on $1.665 million of convertible debentures by issuing to such debenture holders an aggregate of 467,605 for the interest payment due June 30.

The company will pay to each such debenture holder approximately 280.84 common shares per $1,000 principal amount of convertible debentures held..

P2 Gold ( PGLDF ) is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada.

The company's shares closed down $0.005 to $0.08 on the TSX Venture Exchange.