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Pivit Exploration (CSE:PIVT) New Listing

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Pivit is engaged in the business of mineral exploration and the acquisition of mineral property assets in British Columbia.

Additional Information:

Company: Pivit Exploration
Stock Symbol: CSE: PIVT
Date Published: May 9, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Pivit Exploration is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “PIVT”.

The company’s recent IPO raised gross proceeds of $402,500 from the placement of 4,025,000 shares at $0.10 per share, including an over-allotment of 525,000 shares.

Haywood Securities Inc. acted as agent for the IPO.

Pivit is engaged in the business of mineral exploration and the acquisition of mineral property assets in British Columbia.

The company was recently granted an option to acquire a 100% interest in the Lennac Lake copper-moly property, located west of Babine Lake and approximately 18 kilometers southwest of the town of Granisle in the northern interior of British Columbia.

The property consists of 8 contiguous mineral tenures comprising an aggregate area of 2875 hectares.

To exercise its option, Pivit is required to:
• pay $200,000 in cash payments over 5 years
• issue 575,000 common shares over 5 years
• incur a minimum of $400,000 in exploration expenditures over 5 years

The property was first discovered by Amax Exploration Inc. in 1971 as a result of a regional soil sampling program that covered the entire Babine Lake area.

After completing an IP survey, Amax drilled 44 percussion holes in 1973 totalling 3441 metres.

Of these, 36 were drilled in the vicinity of the discovery showing in the west zone and the remainder were drilled further east in an area of strong geochemical soil anomalies.

The property has been the subject of additional work over the years by previous owners including Kennecott Exploration, Cominco, Hudson Bay Exploration and Development, and Dentonia Resources.

The company plans an initial Phase 1 diamond drill program of 450 metres.

The shares have yet to trade and are bid at $0.12.

For more information, please contact Michael England, President and CEO at 604-683-3995 or email mike@engcom.ca.

I’m Samantha Deutscher for Investmentpitch Media