NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / June 26, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FRA:FIRA)(OTCQB:PMMCF) has upsized the non-brokered private placement (the "Placement") announced on 19 June 2024 to 12,951,852 units ("Units") at a price of $0.27 per Unit for gross proceeds of $3,497,000 ("Proceeds"). Each Unit will consist of one fully paid common share and a half purchase warrant. Each whole warrant (a "Warrant") shall entitle the holder to acquire an additional common share at a price of $0.50 for a period of 3 years after the closing of the Placement.
The Placement has been upsized to accommodate supportive long-term shareholders alongside an investment by a natural resources fund.
Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently reported results from the third drillhole of its maiden program (refer 23 May 2024 News Release) including:
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801 m @ 0.40% Cu, 0.51 g/t Au, 2.87 g/t Ag (from 54 to 855m (EOH))
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including 518 m @ 0.53% Cu, 0.73 g/t Au, 3.45 g/t Ag (from 192 to 710)
including 176 m @ 0.71% Cu, 0.74 g/t Au, 4.86 g/t Ag (from 192 to 368)
including 64 m @ 0.75%, 1.2 g/t Au, 4.60 g/t Ag (554 to 618m)
including 32m @ 0.64% Cu, 0.71 g/t Au, 4.54 g/t Ag (642 to 674m)
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The first tranche of the Placement is scheduled to close on or around Friday 28 June, with a second and final tranche scheduled to close on or around Friday 5 July. The Company may pay finder's fees of up to 6% in cash and 6% in finder's warrants from the sale of Units to third parties sourced by finders. Finder's warrants will be on the same terms as the Warrants issued under the Placement.
Any securities issued in connection with the Placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. The Placement is subject to CSE acceptance.
| ON BEHALF OF THE BOARD |
INVESTOR CONTACT |
| Joseph van den Elsen | President & CEO |
Joseph van den Elsen |Joseph@pampametals.com |
ABOUT PAMPA METALS
Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges.
In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.
Qualified Person
Technical information in this news release has been approved by Mario Orrego G. Mr. Orrego G. is a Geologist, a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego G. is a consultant to the Company.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.
Related Documents
https://storage.googleapis.com/accesswire/media/881838/pm--nr-2024-6-26--fully-subscribed-pp-upsized-to-35m.pdf
SOURCE: Pampa Metals Corp.
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