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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2013) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM) (the "Company") reports that the Company has arranged a non-brokered private placement financing for gross proceeds of $500,000 (the "Offering"). The Offering will, subject to TSX Venture Exchange acceptance, consist of 5,000,000 units at a price of $0.10 per unit (a "Unit"), where each Unit will consist of one common share, one common flow-through common share and two share purchase warrants (a "Warrant"). Each Warrant will entitle the holder to purchase one common share for a period of two years at $0.10 per share in the first year and at $0.15 per share during the second year. The securities to be under the Offering will be subject to a four-month hold period and the Company may, in appropriate circumstances, pay finder's fees in connection with the Offering. |
