Business
Pacific Cascade Minerals purchases 100% interest in claims adjacent to existing molybdenum discovery in central B.C.
Pacific Cascade Minerals purchases 100% interest in claims adjacent to existing molybdenum discovery in central B.C..
About this update from Bathurst Metals Corp
[{"type":"text","content":"\n\n\n\nAnnounces $1.5 Million Dollar Private Placement\n\n\nTSX-V: PCV\n\n\nVANCOUVER, Oct. 11 /CNW/ - Pacific Cascade Minerals Inc. (the "Company")\nadvises that it has entered into an arm's length agreement with Mr. Warren\nRobb to purchase a 100% undivided interest in two contiguous Nechako Basin,\ncentral British Columbia based mineral claims. The combined Claims measure\napproximately 10 square kilometers in size and are situated on the northern\nboundary of TTM Resources Inc.'s Chu property.\n\n\nConsideration for the property is 100,000 shares of the Company and a 2%\nnet smelter royalty. The Company has a right at any time up to and including 5\nyears from the commencement of production to purchase 50% of the net smelter\nroyalty (1% NSR) for a payment of $1,000,000. Completion of the purchase of\nthe property is subject to regulatory approval.\n\n\nThe Company also announces that it has reached an agreement in principle\nwith Becher McMahon Capital Markets for a private placement of shares with\ntheir institutional clients. The agreement provides for a total of CAD\n$1,500,000 to be raised as follows:\n\n\n1. $500,000 by the issuance 2,000,000 Units at a price of $0.25\n per Unit, consisting of one common share and one share\n purchase warrant exercisable at $0.35. Each full warrant\n entitles the holder to purchase one common share for a period\n of 12 months; and\n\n2. $1,000,000 by the issuance of 3,333,333 Flow Through share\n Units. Each Flow Through Share Unit is comprised of one Flow\n Through share and one-half of one share purchase warrant.\n Each full warrant entitles the holder to purchase one non\n flow-through common share for $0.40 for a period of 12\n months.\n\n\nOn behalf of the Board of Directors\n\n\n"Harold Forzley"\n\n\nPresident/CEO\n\n\nPacific Cascade Minerals Inc.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or the accuracy of this news\n\n\nrelease. We seek Safe Harbor.\n\n\n","length":2152,"tagName":"div"}]