Business
South Pacific Metals Announces Closing of Upsized C$6.3 Million Financing and Welcomes Jonathan Rubenstein to Its Board of Directors
Company Retains Agentis Capital Mining Partners for Advisory Services Vancouver, British Columbi...
About this update from South Pacific Metals Corp.
[{"type":"text","content":"South Pacific Metals Announces Closing of Upsized C$6.3 Million Financing and Welcomes Jonathan Rubenstein to Its Board of DirectorsCompany Retains Agentis Capital Mining Partners for Advisory ServicesVancouver, British Columbia--(Newsfile Corp. - February 4, 2025) - South Pacific Metals Corp. (TSXV: SPMC) (FSE: 6J00) (\"SPMC\" or the \"Company\") is pleased to announce that is has closed its previously announced non-brokered private placement offering (the \"Offering\") (see news release dated January 20, 2025) issuing 13,125,000 units of the Company (the \"Units\") at a price of C$0.48 per Unit for total gross proceeds of C$6,300,000. In addition, SPMC announces the appointment of Jonathan Rubenstein, LLB, to the board of directors of the Company (the \"Board\").With a distinguished career spanning both law and the mining industry, Mr. Rubenstein brings an exceptional breadth of expertise in governance, strategy, and commercial transactions to the Company. A lawyer in private practice for 18 years, Mr. Rubenstein transitioned to the mining sector where he has served as a director and senior officer, as well as a member of key board committees, for numerous junior and senior mining companies. His career highlights include strategic leadership in acquisitions, financing, exploration, permitting, and development for several world-class mining projects.Mr. Rubenstein has been a principal negotiator in high-stakes mergers and acquisitions, including the sales of Sutton Resources, Canico Resource Corp., Cumberland Resources, Aurelian Resources, and Dalradian Resources to major mining companies and private equity funds. His governance roles have included long-standing directorships at Eldorado Gold, Detour Gold, and MAG Silver, where he also served as Chairman.\"Our portfolio of projects across Papua New Guinea, one of the world's premier gold/copper discovery regions, along with our recent upsized financing, positions us well for growth. We are pleased to have closed this financing and to have the support of Jonathan, Alex Davidson, who joined the Board in December 2024, and a select group of professional investors, most of whom come from the mining industry, as we advance multiple drill targets. Jonathan's appointment significantly strengthens our Board, bringing a fresh perspective informed by years of diverse experience, and rein...