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Pampa Metals Launches Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / March 21, 2023 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to launch a non-br
About this update from Andina Copper Corporation.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / March 21, 2023 / Pampa Metals Corp. (\"Pampa Metals\" or the \"Company\") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to launch a non-brokered private placement offering (the \"Offering\") of up to 5,333,334 units (\"Units\") at a price of $0.15 per Unit for gross proceeds of up to $800,000. Proceeds will be used to support the previously announced ~2,100m diamond drill program of 3 deep holes at the Buenavista target and the Block 4 Project more broadly. Scheduled to commence in early April 2023, with preparatory works already underway, the program is expected to be completed within 2 months and assay results received in June. Non-Brokered Private Placement The Company is pleased to launch a non-brokered private placement offering (the \"Offering\") of up to 5,333,334 units (\"Units\") at a price of $0.15 per Unit for gross proceeds of up to $800,000. Each Unit will consist of one fully paid common share one purchase warrant (a \"Warrant\"). Each Warrant shall entitle the holder to acquire an additional common share at a price of $0.21 for a period of 3 years after the closing of the Offering. In connection with the Offering, the Company will pay finder's fees of up to 7% in cash and 7% in finder's warrants from the sale of Units to third parties sourced by finders. Finder's warrants will be on the same terms as those issued under the Offering and entitle the holder to purchase one common share of the Company at a price of $0.21 per share for a period of 3 years from the closing date. In addition to supporting drill testing of the Buenavista target and the Block 4 Project more broadly, proceeds of the Offering will be directed towards due diligence on the identification and possible acquisition of large porphyry copper-molybdenum targets capable of complementing the Company's existing portfolio (which acquisition will not be a \"significant acquisition\" for securities law purposes, as defined in National Instrument 51-102 - Continuous Disclosure Obligations), as well as general corporate purposes. Units will be offered by way of the \"listed issuer\" exemption under National Instrument 45-106 - Prospectus Exemptions in all the provinces of Canada with the exception of Quebec. A potential investor resident in Canada (except Quebec) is not required to be an \"accredited investor\" under applicable Ca...