American Pacific Mining Announces Increase to Non-Brokered Private Placement
13 May 2020 - 3:58AM
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK:
USGDD) (“APM” or the “Company”) is pleased to announce
that, further to its news release of May 11, 2020, it wishes to
increase its private placement (the “
Private
Placement”) from 4,000,000 units (the
“
Units”) at CAD$0.125 per Unit to up to 8,000,000
Units at CAD$0.125 per Unit for total gross proceeds of
CAD$1,000,000.
Each Unit will be comprised of one common share
(the “Shares”) and one common share purchase
warrant (the “Warrants”) with each Warrant
entitling the holder to purchase one Share of the Company at a
price of CAD$0.20 per Share for a period of 18 months from the date
of closing of the Private Placement.
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 of the Company’s portfolio of
resource properties and for general working capital.
About American Pacific Mining
Corp.
American Pacific Mining Corp. is a gold explorer
focused on precious metal opportunities in the Western United
States. The Gooseberry Gold/Silver Project and the Tuscarora Gold
Project are two high-grade, precious metal projects located in key
mining districts of Nevada USA. The Company’s mission is to grow by
the drill bit and by acquisition. American Pacific is Eyeing a Gold
Discovery amidst gold’s next bull market.
The Company entered into a definitive agreement
with Madison Metals to acquire the Madison Copper Gold Project near
Silver Star Montana, USA (the “Madison
Project”). The Madison Project is currently under an
earn-in, joint venture agreement, whereby Kennecott Exploration
Company, part of the Rio Tinto Group may spend $30 million USD to
earn up to 70% of the Madison Project.
On Behalf of the Board of American Pacific
Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC,
V6C 3A8 Canada Contact MarketSmart:
1.877.261.4466 info@marketsmart.ca
The CSE has neither approved nor disapproved the
contents of this news release. Neither the CSE nor its Regulation
Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this
release.
The securities referred to in this news
release have not been, 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 absent U.S. registration or an
applicable exemption from the U.S. registration
requirements.
This news release does not constitute an
offer for sale of securities for sale, nor a solicitation for
offers to buy any securities. Any public offering of
securities in the United States must be made by means of a
prospectus containing detailed information about the company and
management, as well as financial statements.
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