American Pacific Mining Corp (“American Pacific”) is pleased to announce that, due to overwhelming investor demand, it has increased the size of its previously announced non-brokered private placement (the “Offering”) (see news releases dated April 2, 2024 and April 3, 2024) an additional 2,500,000 units at a price of $0.20 per unit (the “Unit”) for gross proceeds $4,500,000. The private placement is fully subscribed.
“We are incredibly grateful for the overwhelming support we have received from both new and existing investors in this private placement,” commented CEO Warwick Smith. “This strong demand is a testament to the confidence investors have in our company’s vision and ability to create long-term shareholder value as we accelerate the exploration of our key projects.”
The Company intends to use the net proceeds from the Offering for exploration and development on the Company’s Palmer Project, Madison Project, other mineral exploration and development projects, and for general corporate purposes. Closing of the Offering is expected to occur as soon as practicable and may occur in one or more tranches. The Company may pay a finder’s fee in connection with the Offering to eligible arm’s length finders in accordance with the policies of the Canadian Securities Exchange. Eventus Capital Corp. has been appointed as a Finder in connection with the Offering.
This Offering is being conducted under the listed issuer financing exemption as per Part 5A of National Instrument 45-106 – Prospectus Exemptions. As a result, the securities issued will not be subject to a hold period under the prevailing Canadian securities laws. A Second Amended and Restated Offering Document dated April 3, 2024, related to this Offering is available on the Company’s SEDAR+ profile at www.sedarplus.ca and on www.americanpacificmining.com. Potential investors are advised to thoroughly review the offering document prior to making any investment decisions.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.