May 17, 2021 – Vancouver, BC, Canada – Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (“Pacific Empire”, “PEMC” or the “Company”), a copper explorer in British Columbia, announces that the Company has closed the first tranche of the oversubscribed non-brokered private placement that the Company previously announced on April 22, 2021 (the “Offering”). The Company has issued 16,275,898 units at a price of $0.06 per unit (the “Units”) for gross proceeds of $976,533.88.
Each Unit will consist of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to acquire one Common Share (“Warrant Share”) at an exercise price of $0.10 per Warrant Share until 5:00 pm (Pacific Time) on the date that is 24 months from the closing of the Offering.
In connection with the Offering, the Company paid finder’s fees to: (i) Haywood Securities Inc. consisting of $39,167.94 in cash and issued 652,799 finder’s warrants (each, a “Finder’s Warrant”); (ii) Research Capital Corp., consisting of $10,500.00 in cash and issued 175,000 Finder’s Warrants; and (iii) Hampton Securities Ltd. consisting of $700.56 in cash and issued 11,676 Finder’s Warrants. Each Finder’s Warrant entitles the holder to purchase one Common Share at a price of $0.10 per Common Share for a period of 24 months from the issue date.
All securities are subject to a hold period that will expire on September 15, 2021. Proceeds from the Offering will be used for general working capital purposes and for exploration on the Company’s flagship Jean Marie property.
“We are excited to continue advancing our flagship Jean Marie project in a resurgent copper market,” stated Pacific Empire’s President and CEO, Brad Peters. “Our crews will mobilize in the coming weeks to begin field work that will be focused on refining drill targets at Jean Marie.”
About Pacific Empire Minerals Corp.
Pacific Empire is a copper exploration company based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the symbol PEMC. The Company’s strong portfolio of gold-enriched copper projects in British Columbia, is the culmination of perseverance through one of the longest bear markets in the resource industry.
British Columbia is a “Green” copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.
ON BEHALF OF THE BOARD,
“Brad Peters”
President and Chief Executive Officer
Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
brad@pemcorp.ca
