Business
Pacific Bay Minerals to Resume Trading on the TSX Venture Exchange on May 2, 2022
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2022) -  David H. Brett, Preside...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Minerals to Resume Trading on the TSX Venture Exchange on May 2, 2022Vancouver, British Columbia--(Newsfile Corp. - April 28, 2022) -  David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or the \"Company\") reports that the common shares of Pacific Bay have been approved to resume trading at the opening on May 2, 2022. Trading in Pacific Bay was halted at the Company's request pursuant to the news release dated March 24, 2022 in which Pacific Bay announced the signing of a Letter Agreement (the \"Agreement\"), constituting a reviewable transaction, to purchase up to a 100% interest in the Atlin Goldfields Project (the \"Property\"), located in Northwest British Columbia. Trading was required to remain halted at the request of the TSX Venture Exchange pending receipt and review of acceptable documentation regarding a fundamental acquisition, pursuant to listings Policy 5.6(d) of exchange Policy 5.3. Completion of the transaction remains subject to a number of conditions, including but not limited to, exchange acceptance and closing of the private placement announced in conjunction with the Agreement.Atlin Goldfield Highlights:● Underexplored, district-scale gold property with 59,154 hectares of mineral tenures.● Prospective for high grade orogenic gold deposit systems including the Yellowjacket high grade gold deposit.● 200 ton-per-day mining permit (Yellowjacket Mine) and exploration permits already in place● Top-tier mining jurisdiction Private Placement:Subsequent to the resumption of trading, Pacific Bay continues to fill its non-brokered private placement (the \"Offering\") of up to 5,000,000 units (\"Units\") at $0.10 per Unit for aggregate gross proceeds of up to $500,000. Each Unit will consist of one common share and one common share purchase warrant of the Company (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.15 per common share for a period of one year from the date of issuance. Pacific Bay Minerals confirms that, in addition to available prospectus exemptions for accredited investors, friends, family and business associates, existing shareholders who might not otherwise qualify may participate in this private placement through the \"Existing Security Ho...