Pentagon I Capital Announces Conditional Approval for Transaction with Prospectiva Resources

Pentagon I Capital Corp., a Toronto-based capital pool company, has received conditional approval from the TSX Venture Exchange (TSXV) for its Qualifying Transaction with Prospectiva Resources Ltd. The definitive agreement will allow Pentagon to acquire all issued securities of Prospectiva in exchange for its own securities. This marks a significant step in Pentagon's aim to transition into a mining issuer.

As part of the agreement, Pentagon plans to consolidate its common shares and change its name to "Prospectiva Resources Ltd." Furthermore, upon completion of the transaction, which is expected around mid-August, the newly-formed entity will focus on developing the 100%-owned Borborema Project in Brazil.

Details of a previous financing effort by Prospectiva are notable, with Paradigm Capital raising CAD 3.68 million through subscription receipts. These receipts will convert to common shares and warrants of the Resulting Issuer once the transaction is finalized. The projected trading symbol of the resulting entity on the TSXV will be "PSVA".