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| Home : Pacific Imperial Mines Private Placement Announced |
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Feb 01
2014 |
Pacific Imperial Mines Private Placement Announced |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 31, 2014) - Pacific Imperial Mines Inc. ("PPM" or the "Company") (TSX VENTURE:PPM.H) is pleased to announce that it intends to arrange a 12 million unit, non-brokered private placement to raise gross proceeds of up to $600,000. Each unit will consist of one common share and one share purchase warrant of the Company at a price of $0.05 per unit. One full warrant is exercisable, for a period of two years from the date of closing, into one common share of the Company at an exercise price of $0.10 per full warrant. The shares issued under this private placement will be subject to a four-month hold period. This placement is subject to acceptance by the TSX Venture Exchange. Proceeds of the financing will be used for advancing the Company's exploration program on the KEG property and for general working capital purposes. The transaction regarding the property was announced in a news release dated January 23, 2014. The closing of the financing is conditional on completing the KEG Mountain Property transaction. |
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| Source:http://www.marketwired.com/mw/release.do?id=1874769&sourceType=3 |
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