Pilgrim Petroleum Corp. (PGPM)

[Punisherzx]

Well for starters based on things like this ......Pilgrim Petroleum Corporation Receives a Commitment of $3.0 Million Working Capital

Jun 08, 2017

OTC Disclosure & News Service

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Addison, Texas, June 08, 2017 (GLOBE NEWSWIRE) -- Pilgrim Petroleum Corporation (PGPM), an oil and gas exploration development (E&D) company focus in proven fields exploited by well managed independent oil companies extracting reserves at lower risk and lower cost than unproved prospects. Our parent is Pilgrim Petroleum PLC, a private company (E&P), focus in domestic and international areas where major oil and gas producing companies have reduced their exploration efforts in search of larger reserves; the company announced today of new funding commitment in the amount of $3.0 Million from certain insider(s). This will be the first of many funding events this year with a combination of insiders and certain private investors.

The new capital commitment will allow the Company to start production on our non-producing properties, acquire additional mineral rights and secure additional working interest. This year we expect will bring transformative changes to our Company, both on the corporate and strategic front. One of our most important tasks is to allocate capital to the most compelling opportunities. We continually strive to align our capital structure with our exploration strategy and through the rationalization of our non-core exploration prospects that no longer fit our selection and screening criteria.