Business
Pacific Bay Minerals Announces $500,000 Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Pacific Bay Minerals Ltd. (TSXV: ...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Minerals Announces $500,000 Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Pacific Bay Minerals Ltd. (TSXV: PBM) (\"PacBay\" or the \"Company is pleased to announce a non-brokered private placement of up to 7,150,000 units (the \"Units\") of the Company at a price of $0.07 per Unit for gross proceeds of up to $500,500 (the \"Offering\"). Each Unit will consist of one common share (each, a \"Share\") and one-half of one Share purchase warrant (each whole warrant, a \"Warrant\"), with each Warrant entitling the holder to acquire an additional Share at a price of $0.12 per Share for a period of 36 months from the closing date of the Offering.The Offering is expected to close on or about May 30, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The securities issued pursuant to the Offering will be subject to a four month hold period from the date of closing of the Offering.Proceeds from the Offering will be used to advance the ongoing exploration at the Atlin Goldfields Property optioned by the Company in northern British Columbia, and to make payment to Brixton Metals Corp. as per the option-agreement on the property. In connection with the Offering, certain finders may receive a cash fee and / or non-transferable finder warrants. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About Pacific Bay Minerals Ltd.The Company has an option to earn a 100% interest in the Atlin Goldfields Property, an early-stage exploration project containing the Yellowjacket deposit among several other prospective gold projects neighbouring the Atlin hydroelectric project. The Yellowjacket deposit contains a historic gold mineralization resource, is located 10 kilometers away from the town of Atlin and has year-round, maintained road access. Contact Informat...