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Pacific Empire Minerals Corp
Symbol PEMC
Shares Issued 125,348,195
Close 2024-05-06 C$ 0.055
Market Cap C$ 6,894,151
Recent Sedar Documents

Pacific Empire closes $722,500 private placement

2024-05-06 17:33 ET - News Release

Mr. Brad Peters reports

PACIFIC EMPIRE ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT FINANCING

Pacific Empire Minerals Corp. has closed its previously announced non-brokered, private placement financing 14.45 million units at a price of five cents per unit for gross proceeds of $722,500. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of eight cents per common share for a period of 36 months from the closing date of the offering.

The funds will be used for exploration on its flagship Trident copper-gold-silver porphyry project and for general working purposes.

In connection with the offering, an aggregate total of $26,075 in cash finders' fees were paid and 521,500 finders' warrants were issued to qualified parties. The finders' warrants are subject to the same terms as the warrants issued in the offering.

Certain insiders of the company acquired units in the offering, for an aggregate total of 1.2 million units and gross proceeds of $60,000. The participation by such insiders in the offering constituted a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Such participation was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, exceeded 25 per cent of the company's market capitalization.

All securities issued in connection with the offering (being the common shares, warrants and finders' warrants), are subject to a statutory hold period expiring Sept. 7, 2024.

About Pacific Empire Minerals Corp.

Pacific Empire is a copper exploration company based in Vancouver, B.C, and trades on the TSX Venture Exchange under the symbol PEMC. The company has a district scale land position in north-central British Columbia totalling 22,541 hectares.

British Columbia is a "green" copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.

We seek Safe Harbor.

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