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Pacific Empire Minerals Announces $1,220,000 Non-Brokered Private Placement of Units and Flow-Through Shares
Vancouver, British Columbia--(Newsfile Corp. - July 9, 2020) -  Pacific Empire Minerals C...
About this update from Pacific Empire Minerals Corp.
[{"type":"text","content":"Pacific Empire Minerals Announces $1,220,000 Non-Brokered Private Placement of Units and Flow-Through SharesVancouver, British Columbia--(Newsfile Corp. - July 9, 2020) -  Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (\"Pacific Empire\", \"PEMC\" or the \"Company\"), a hybrid prospect generator, announces that it intends to issue, pursuant to a non-brokered private placement, up to:16,000,000 units (\"Units\") of the Company at a price of $0.05 per Unit; and6,000,000 flow-through shares (\"Flow-Through Shares\") of the Company at a price of $0.07 per Flow-Through Share, for aggregate gross proceeds of up to $1,220,000 (the \"Offering\").Each Unit will consist of one common share in the capital of the Company (\"Common Share\") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Flow-Through Share will be issued on a \"CEE flow-through\" basis pursuant to the Income Tax Act (Canada). Each Warrant will entitle the holder to acquire one Common Share (each, a \"Warrant Share\") at an exercise price of $0.10 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 24 months from the issuance closing date (the \"Expiry Time\").Closing of the Offering is expected to occur on or before July 31, 2020 and is subject to all necessary approvals, including the approval of the TSX Venture Exchange.Proceeds of the Offering will be used to fund the Company's planned exploration and drilling programs on its Worldstock, Weedon and recently acquired Jean Marie Copper-Gold Porphyry projects, in addition to general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.The 2020 exploration programs on the Company's Worldstock, Weedon and Jean Marie projects will consist of reverse circulation drilling and potentially diamond drilling, with the bulk of the work planned for the Jean Marie project. About Pacific Empire Minerals Corp.PEMC is an exploration company based in Vancouver, British Columbia, that employs a \"hybrid prospect generator\" business model and trades on the TSX Venture Exchange under the symbol PEMC and on the OTCQB Markets under the symbo...