(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 31, 2021 – Pacific Imperial MinesInc. (TSXV:PPM) (“Pacific Imperial” or the“Company”) announces that, subject to the approval of the TSX Venture Exchange(the “ Exchange ”), it proposes to complete a non?brokered private placement (the “ Private Placement ”)of up to 4,000,000 flow-through units (each a “ FT Unit ”) at $0.05per FT Unit for gross proceeds of up to $200,000. Each FT Unitconsists of one flow-through common share and one transferable commonshare purchase warrant (a “ Warrant ”) with each Warrant exercisable topurchase one additional common share (a “ Share ”) in thecapital of the Company at a price of $0.10 per Share for a period oftwo years.
All securities issued pursuant to the Private Placementwill be subject to a mandatory four month hold period and the ExchangeHold period. Finder’s fees of 8% cash and 8%finder’s warrants may be payable to qualified parties.
The Company intends touse the gross proceeds of the Private Placement for payments relatedto the work programs on the TREK 31 Project, which includes InducedPolarization (IP) geophysical survey across the source area of thetill anomaly to target areas of anomalous chargeability andresistivity for identification of drill targets. Drill targets willlikely be identified that could be drilled from existing loggingroads.
Technical details on the TREK 31 Project have beenpreviously released by Orogen Royalties Inc. andcan be found at: https://www.orogenroyalties.com/news/orogen-options-the-trek-31-gold-project-to-pacific-imperial-mines
About Pacific Imperial Mines
Pacific Imperial is a mineralexploration company based in Vancouver, Canada, engaged in theacquisition, exploration, evaluation and development of mineralproperties in an acceptable risk environment.
The Company’s current focus is on the acquisition ofgold and base metal properties. The Company’s,board of directors, management team and technical advisors havecollective geological and financing experience exceeding 200 years.
ON BEHALF OF THE BOARD OFDIRECTORS
“ChrisMcLeod ”
Chris McLeod, President
For further information pleasecontact:
Roman Shklanka, Chairman, at 604-649-6195, or ChrisMcLeod, President, at 604-669-6332
Email: investor@pacificimperialmines.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
The securities referred to in thisnews release have not been, nor will they be, registered under theUnited States Securities Act of 1933, as amended, and may not beoffered or sold within the United States or to, or for the account orbenefit of, U.S. persons absent U.S. registration or an applicableexemption from the U.S. registration requirements.
This news release does not constitutean offer for sale of securities for sale, nor a solicitation foroffers to buy any securities. Any public offering of securities inthe United States must be made by means of a prospectus containingdetailed information about the company and management, as well asfinancial statements.
NOT FOR DISTRIBUTION TO THE UNITEDSTATES OR FOR DISSEMINATION IN THE UNITED STATES
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