American Pacific Mining Corp (“American Pacific”) is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the “Offering”) (see news release dated April 2, 2024) from 15,000,000 units at a price of $0.20 per unit (the “Unit”) for gross proceeds of $3,000,000 to 20,000,000 units for gross proceeds of $4,000,000. The private placement is now fully subscribed and the order book is closed.
“We are very pleased to see such strong investor demand for this private placement, which we believe demonstrates the significant support and confidence that investors have in American Pacific and our ability to deliver shareholder value,” commented CEO Warwick Smith. “The funds raised will allow us to aggressively advance our exploration programs at our two 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. An Offering Document 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.