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American Pacific Mining Corp C.USGD

Alternate Symbol(s):  USGDF

American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. It has two flagship assets: the Palmer Project and the Madison Project. The Palmer Project is a Volcanic Massive Sulfide (VMS) project in Alaska. The Palmer Project is located only 60 kilometers (km) from the deep seaport at Haines, Alaska. The Madison Project is located in the heart of Montana’s prolific copper-gold belt only 38 km southeast of the world-renowned Butte Mining District. The Project consists of approximately 136 unpatented and six patented claims (2,514 acres), accessed via improved dirt roads. Its other projects include Gooseberry, Tuscarora and Red Hill. The Gooseberry Project is located in Storey County, Nevada, United States. The Gooseberry Project includes 42 unpatented claims, totaling over 708 acres. The Red Hill is a sediment-hosted gold project located 24 kilometers southeast of the 12-million-ounce Cortez Hills gold deposit.


CSE:USGD - Post by User

Post by SPACEDOCon Dec 13, 2021 4:10pm
189 Views
Post# 34226482

American Pacific Mining Announces Closing of Oversubscribed

American Pacific Mining Announces Closing of Oversubscribed

American Pacific Mining Announces Closing of Oversubscribed Private Placement

GLOBENEWSWIRE 4:00 PM ET 12/13/2021
Symbol Last Price Change
0.89down -0.02 (-2.197802%)
QUOTES AS OF 03:59:55 PM ET 12/13/2021

VANCOUVER, British Columbia, Dec. 13, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp.(USGDF) (“American Pacific” or “the Company”) is pleased to announce the closing of its oversubscribed non-brokered private placement (the “Private Placement”) raising gross proceeds of $10,146,000 through the issuance of 10,146,000 units (the “Units”) at $1.00 per Unit.

Each Unit consists of one common share (each a “Share”) of the Company and one-half of one transferable warrant (each whole warrant a “Warrant”). Each whole Warrant will entitle the holder to purchase one additional Share of the Company at an exercise price of $1.40 for a period of 24 months (the “Expiry Date”) from the closing, subject to earlier expiry of the exercise period if, at any time after four months from closing, the closing price of the Shares is greater than $2.00 for ten (10) or more consecutive trading days (the “Accelerated Expiry Provisions”).

The Company paid finder’s fees of $649,320 and 649,320 finder’s warrants (the “Finder’sWarrants”) to Clarus Securities Inc., PI Financial Corp., Leede Jones Gable Inc. and Canaccord Genuity Corp. The Finder’s Warrants are non-transferable, exercisable at $1.40 per Share until the Expiry Date and are subject to the Accelerated Expiry Provisions.

All securities issued pursuant to the Private Placement are subject to a four-month hold period.

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, plus potential strategic acquisitions and general working capital.

About American Pacific Mining Corp.(USGDF)


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