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Pacific Bay Minerals Ltd. Announces $2 Million Private Placement to Advance Pereira-Velho Gold Project in Brazil and Extends Warrant Expiry Dates
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OF FOR DISSEMINATION IN THE UNITED STATES V...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Minerals Ltd. Announces $2 Million Private Placement to Advance Pereira-Velho Gold Project in Brazil and Extends Warrant Expiry DatesNOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OF FOR DISSEMINATION IN THE UNITED STATESVancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - Pacific Bay Minerals Ltd. (TSXV: PBM) (\"PacBay\" or the \"Company\") issues the following clarifying news release to provide additional details relating to its private placement announced July 2nd, 2025.The Company is pleased to announce a non-brokered private placement of up to 20,000,000 units (the \"Units\") at a price of $0.10 per Unit for gross proceeds of up to $2,000,000 (the \"Offering\").Each Unit will consist of one common share and one common share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable to acquire one additional common share at a price of $0.15 per share for a period of 24 months from the date of issuance. The Warrants will contain an acceleration clause, providing the Company the right to accelerate the expiry of the Warrants if the volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange equals or exceeds $0.25 for twenty (20) consecutive trading days. The Company may accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants will expire on the 14th trading day on the TSX Venture Exchange after the date of such news release. The Units will be offered pursuant to available prospectus exemptions set out under applicable securities laws and instruments, including National Instrument 45-106 - Prospectus Exemptions. The Offering will also be made available to existing shareholders of the Company who, as of the close of business on, held common shares (and who continue to hold such common shares as of the closing date), pursuant to the existing shareholder exemption set out in BC Instrument 45-534 Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the \"Existing Securityholder Exemption\"). The Existing Securityholder Exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction o...