Business
Pacific Bay Extends Closing Date of Non Flow-Through Financing By Two Weeks
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2021) - David H. Brett, President a...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Extends Closing Date of Non Flow-Through Financing By Two WeeksVancouver, British Columbia--(Newsfile Corp. - January 22, 2021) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or the \"Company\") reports that the Company has received TSX Venture Exchange approval to extend the closing date of the remaining 1,210,000 non flow-through units (the \"NFT Units\") at a price of $0.125 per NFT Unit, to February 5th, 2021. Each NFT Unit consists of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year. The NFT Units form part of a $537,500 non-brokered flow-through and non flow-through private placement announced on November 4, 2020 (the \"Financing\"). The first tranche of the Financing closed on December 8, 2020, raising gross proceeds of $366,440. The Company will not proceed to close the remaining flow-through portion of the Financing. The Company may pay finder's fees on all or part of the remaining Financing in accordance with the policies of the TSX Venture Exchange. The Company plans to use the proceeds of the financing to explore its 100% owned British Columbia gold and polymetallic properties and for working capital purposes.Pacific Bay Minerals Ltd. Per/David H. Brett, MBAPresident & CEO Contact: David Brett, 604-682-2421, [email protected] This news release contains \"forward‐looking statements\" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the anticipated closing of the remaining portion of the Financing and the expected use of proceeds of the Financing.. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other fact...