Mr. Karim Rayani reports
EUROPACIFIC CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Subject to regulatory acceptance, Europacific Metals Inc. has completed the second tranche of the non-brokered private placement announced on Oct. 17, 2023.
In this second tranche, the company raised total gross proceeds of $62,500 by issuing 2.5 million units of the company at a purchase price of 2.5 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the company at an exercise price of five cents per share for a term of two years from the date of issuance. The shares issued pursuant to the private placement will be subject to a statutory hold period of four months plus one day from the date of issuance. No insiders participated in this second tranche of the private placement and no finders' fees are payable in connection with this private placement.
The proceeds from this financing will be used for initial project reconnaissance by the new chief executive officer and general working capital purposes.
About Europacific Metals Inc.
Europacific Metals is a Canadian public company listed on the TSX Venture Exchange and in the United States on the OTCQB exchange. The company holds brownfield gold and copper-gold projects located in Portugal. The company is focused on exploration in highly prospective geological settings in Europe.
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