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Pampa Metals Closes Oversubscribed $2M Private Placement
VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM) (FSE:FIRA) (OTCQX®:PMMCF) is pleased to announce tha
About this update from Andina Copper Corporation.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Pampa Metals Corp. (\"Pampa Metals\" or the \"Company\") (CSE:PM) (FSE:FIRA) (OTCQX®:PMMCF) is pleased to announce that it has issued 8,427,500 units (\"Units\") at a price of $0.24 per Unit, under the Non-Brokered Private Placement offering (the \"Offering\") detailed in an April 8, 2024 News Release, for gross proceeds of $2,022,600. Each Unit consists of one fully paid common share and a half share purchase warrant entitling the holder to acquire an additional common share at a price of $0.40 for a period of 3 years after the closing of the Offering. Units were allocated to a specialist resources fund and supportive long-term shareholders. Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently reported results from the first drillhole (refer 18 March 2024 News Release) including: 422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (from 198 m); including 132 m @ 0.71% Cu, 0.85 g/t Au, 4.3 g/t Ag (from 220m); Including 80 m @ 0.6% Cu, 0.77 g/t Au, 3.2 g/t Ag (from 468m). The Company paid aggregate finder's fees of $75,852 and issued 316,050 finder's warrants to Canaccord Genuity Inc, Haywood Securities Inc, Raymond James Ltd and PI Financial Corp. All securities issued under the Offering are subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. Grant of Incentive Stock Options and RSUs The Company has granted a total of 800,000 stock options and 650,000 restricted share units (\"RSUs\") to its President & CEO, Directors, CFO and three consultants. The stock options are exercisable at $0.40 until April 17, 2026 and the RSUs will vest upon the 10-day volume weighted average trading price of the common shares being equal to $0.40. ON BEHALF OF THE BOARD INVESTOR CONTACT Joseph van den Elsen | President & CEO Joseph van den Elsen | [email protected] ABOUT PAMPA METALS Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE:FIR), and OTC (OTCQB:PMMCF) exchanges. In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina. Reporte...