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Pampa Metals Upsizes Fully Subscribed Private Placement to $1.6 Million
VANCOUVER, BC / ACCESSWIRE / December 19, 2023 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM) (FSE:FIR) (OTCQB:PMMCF) is pleased to announce th
About this update from Andina Copper Corporation.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / December 19, 2023 / Pampa Metals Corp. (\"Pampa Metals\" or the \"Company\") (CSE:PM) (FSE:FIR) (OTCQB:PMMCF) is pleased to announce that, in response to strong demand, it has upsized the fully subscribed non-brokered private placement (the \"Placement\") announced on December 8, 2023. The Placement will now consist of 10,000,000 units (\"Units\") at a price of $0.16 per Unit, for gross proceeds of $1,600,000. Each Unit will consist of one fully paid common share and a half share purchase warrant. Each whole warrant (a \"Warrant\") shall entitle the holder to acquire an additional common share at a price of $0.30 for a period of 3 years after the closing of the Placement. The first tranche of the Placement will close on Wednesday 20 December, with a second and final tranche anticipated to close on Friday 22 December. Proceeds of the Placement will fund follow-up diamond drilling at the newly acquired Piuquenes Copper-Gold Porphyry Project, where the Company recently reported 130m from 362m @ 1.31% CuEq*, within a broader interval of 558m from 362m @ 0.73% CuEq* which remains open at depth (refer 5 December 2023 News Release). Preparatory work is underway, and drilling is scheduled to commence in mid-January. Joseph van den Elsen, the Company's President and CEO, stated: \"We are delighted with the market response to our newly acquired flagship project and demand for the Placement. Having already mobilized, we look forward to follow-up testing of the depth and lateral extension of the relatively shallow and significant, high-grade intervals of reported mineralization at Piuquenes and the development of an aggressive, multi-campaign exploration program.\" In connection with the Placement, 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 Placement. Any securities issued in connection with the Placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. The latest Company Presentation can be accessed at https://pampametals.com/investor/. ON BEHALF OF THE BOARDJoseph van den Elsen | President & CEO INVESTORS CONTACTJoseph van den Elsen |...