Pampa Metals Announces Share Consolidation, Reduction in Warrant Exercise Price, and Non-Brokered Private Placement

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[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / August 9, 2023 / Pampa Metals Corp. (\"Pampa Metals\" or the \"Company\") (CSE:PM) (FSE:FIRA) (OTCQB®:PMMCF) has today announced its intention to consolidate its issued and outstanding common shares on a 1-for-2.5 basis (the \"Consolidation\") and to reduce the exercise price of its November 2025 $0.19 and March 2026 $0.21 warrants to $0.095 and $.105 respectively (the \"Warrant Exercise Price Reduction\"), on a post consolidation basis. See Share Consolidation and Warrant Exercise Price Reduction below for more information. Non-Brokered Private Placement Concurrently, the Company intends to launch a non-brokered private placement offering (the \"Offering\") of up to 10,000,000 post-consolidation units (\"Units\") at a price of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one fully paid common share and one common share purchase warrant (a \"Warrant\"). Each Warrant shall entitle the holder to acquire an additional common share at a price of $0.075 for a period of 3 years. In connection with the Offering, the Company may pay finder's fees of up to 7% in cash and 7% in finder's warrants. The finder's warrants will be on the same terms as those issued under the Offering. The closing of the Offering may occur in one or more tranches with the final tranche expected to occur on or before September 10, 2023, and is subject to receipt of all necessary regulatory approvals. Use Of Proceeds Following recent drilling of the Buenavista Target in June 2023, Pampa Metals is seeking to further evaluate the Block 4 project via a joint venture partnership and will shift its focus to the acquisition, exploration, and development of a more advanced stage copper project(s) with significant scale potential. Proceeds from the Offering will be primarily used to assess, and potentially acquire, advanced stage copper project(s) in The Americas, where the application of the Company's technical and commercial expertise in exploration, resource delineation and feasibility studies can be applied to creating value for shareholders. High quality copper projects in other jurisdictions which meet our criteria will be assessed on an opportunistic basis. Specifically, the Company is seeking to acquire a project with the following characteristics: Historic ore grade interval(s); Opportunity to quickl...

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