pcNewsWire – Pacific Imperial Mines Inc. (TSX-V: PPM) has closed previously announced private placement, issuing 4,800,000 common shares at $0.02 per common share for gross proceeds of $96,000.
Proceeds will be used to maintain and preserve the company’s existing operations, activities, and assets, and for general working capital purposes.
PPM ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Vancouver, June 13, 2017 – PACIFIC IMPERIAL MINES INC. (the “Company”) (TSX-Venture-PPM) announces that it has closed its non-brokered private placement announced of April 24, 2017. A total of 4,800,000 common shares were issued at a price of $0.02 per common share for aggregate gross proceeds of $96,000. In addition, 108,500 common shares were issued to an arm’s length finder who was instrumental in introducing placees to the Company.
All securities issued pursuant to the private placement are subject to a four month hold period and may not be traded until October 13, 2017
Proceeds of the private placement will be used to maintain and preserve the Company’s existing operations, activities, and assets, and for general working capital purposes.
ON BEHALF OF THE BOARD
H. Leo King (signed)
H. Leo King, President
For further information please contact:
Roman Shklanka, Chairman, at 604-649-6195,
H. Leo King, President, at 604-318-3331
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this News Release.