VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to announce a private placement (the “Private Placement”) of up to 5,000,000 units (the “Units”) at a price of CAD $1.00 per Unit for gross proceeds of up to CAD $5,000,000. Each Unit will be comprised of one common share (the “Shares”) and one half of one common share purchase warrant (each whole warrant a “Warrant”) with each Warrant entitling the holder to purchase one Share of the Company at a price of $1.40 per Share for a period of 24 months from the date of closing of the Private Placement.

In the event that the closing price of the Shares of the Company is at or above $2.00 per Share for a period of 10 consecutive trading days during the Warrant exercise period (with the 10th such trading day hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry date shall accelerate to the date that is 60 days after the Eligible Acceleration Date.

Up to CAD $5,000,000 of institutional investor interest has already been identified by the Company.

All securities issued will be subject to a four month hold period pursuant to securities laws in Canada. Finders’ fees of 7% cash and 7% finder’s warrants may be payable to qualified parties.

The Company intends to use the proceeds from the Private Placement for exploration drill programs at the Company’s Gooseberry Silver-Gold Project and Tuscarora Gold-Silver Project, both in Nevada, potential strategic acquisitions and general working capital.

About American Pacific Mining Corp.