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Pampa Metals Provides Update on Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / February 13, 2023 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM) (FSE:FIRA) (OTCQB:PMMCF) is pleased to provide an
About this update from Andina Copper Corporation.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 13, 2023 / Pampa Metals Corp. (\"Pampa Metals\" or the \"Company\") (CSE:PM) (FSE:FIRA) (OTCQB:PMMCF) is pleased to provide an update to its Non-Brokered Private Placement (the \"Private Placement\") detailed in a January 19, 2023 News Release. The Company has received subscriptions in excess of $2,000,000 under the Private Placement. The Company will shortly close a first tranche of $2,000,000 which will enable mobilisation of the maiden Block 4 drill program. Non-Brokered Private Placement On January 19, 2023, the Company launched a non-brokered private placement offering (the \"Offering\") of up to 20,000,000 units (\"Units\") at a price of $0.15 per Unit for gross proceeds of up to $3,000,000. Each Unit will consist of one fully paid common share 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. Proceeds from the Offering will be used primarily to drill test the Buenavista target and the Block 4 Project more broadly, where an initial ~2,100m diamond drill program has been designed to test coincident geological, geochemical, and geophysical anomalies. Residual proceeds 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, 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 Canadian securities laws to participate in the Offering. The securities forming part of the Units are expected to be immediately freely tradeable under applicable Canadian ...