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Pacific Empire Minerals Announces Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2019) - Pacific Empire Minerals Corp....
About this update from Pacific Empire Minerals Corp.
[{"type":"text","content":"Pacific Empire Minerals Announces Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through UnitsVancouver, British Columbia--(Newsfile Corp. - April 24, 2019) - Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (\"Pacific Empire\", \"PEMC\" or the \"Company\"), a hybrid prospect generator focused in British Columbia, announces that it intends to issue, pursuant to a non-brokered private placement, up to:9,285,715 units (\"Units\") of the Company at a price of $0.07 per Unit; and1,111,111 flow-through shares (\"Flow-Through Shares\") of the Company at a price of $0.09 per Flow-Through Share, for aggregate gross proceeds of up to $750,000 (the \"Offering\").Each Unit will consist of one common share in the capital of the Company (\"Common Share\") and one Common Share purchase warrant (\"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 $0.14 per Warrant Share until 4:30 pm (Mountain Standard time) on that date that is 36 months from the issuance closing date (the \"Expiry Time\").Closing of the Offering is expected to occur on or before May 31, 2019 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 Babine Copper-Gold Porphyry projects and for 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 2019 exploration programs on the Company's Babine Copper-Gold Porphyry projects will consist of preliminary geochemical and seismic surveys followed by reverse circulation drilling. The initial geochemical and seismic surveys will help to better constrain existing drill targets as well as to outline additional drill targets in certain prospective areas identified by PEMC. The proposed work programs are expected to consist of approximately 100 field days, with the Company planning to complete 50 reverse circulation drill holes testing numerous drill targets in up to a d...