Business
Pacific Empire Minerals Corp. Announces Closing of Initial Public Offering and Listing on the TSX Venture Exchange
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2018) - Pacific Empire Minerals Corp....
About this update from Pacific Empire Minerals Corp.
[{"type":"text","content":"Pacific Empire Minerals Corp. Announces Closing of Initial Public Offering and Listing on the TSX Venture ExchangeVancouver, British Columbia--(Newsfile Corp. - March 20, 2018) - Pacific Empire Minerals Corp. (TSXV: PEMC) (the \"Company\" or \"PEMC\") is pleased to announce today the closing of an initial public offering (the \"Offering\" or \"IPO\") of 10,000,000 units of the Company (the \"Units\") at a purchase price of $0.20 per Unit for gross proceeds of $2,000,000. Each Unit is comprised of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant of the Company (a \"Warrant\"). Each Warrant is exercisable for one Common Share at a price of $0.30, for a period of three years following the closing of the Offering.The TSX Venture Exchange (the \"TSXV\") has accepted the Company's listing application as of March 20, 2018 (the \"Listing Date\") and the Company's Common Shares are expected to resume trading on the TSXV on or about March 22, 2018 under the trading symbol \"PEMC\".The net proceeds of the Offering (the \"Net Proceeds\") will be used to fund exploration work on the Company's portfolio of copper-gold projects, most notably the Wildcat Project in central British Columbia situated 9 km from Centerra Gold's Mt. Milligan copper-gold mine, and for general working capital requirements. In addition, PEMC will be taking delivery of a custom-built reverse-circulation drill (the \"RC drill\"). The RC drill will provide a means to cost-effectively and rapidly advance and add value to the Company's portfolio of copper-gold projects.\"The successful completion of our IPO represents a pivotal step for the Company,\" commented Brad Peters, President and CEO of PEMC. \"After five years as a private company focused on the acquisition and exploration of gold-rich copper projects, we are well positioned to rapidly advance our portfolio and take advantage of British Columbia's position as an important copper jurisdiction.\"Additional information on the Company, the IPO and its projects, can be found in the Company's Amended and Restated Prospectus, dated January 10, 2018 as filed on SEDAR at (www.sedar.com), and on the Company's website at www.pemcorp.ca.Haywood Securities Inc. (the \"Agent\") acted as an agent in connection with the Offering. For its services the Agent received corporate finance f...