Pacific Booker Minerals Inc. Announces Closing of Non-Brokered Private Placement
Pacific Booker Minerals Inc. Announces
Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Pacific Booker Minerals Inc. (TSXV:
BKM) (OTC Pink: PBMLF) ("Pacific Booker" or the "Company") is pleased to announce the closing of
its previously announced non-brokered private placement (the "Private Placement"), subject to final TSX
Venture Exchange approval, raising gross proceeds of $4,000,001.90 through the issuance of
1,860,466 units ("Units") at a price of $2.15 per Unit.
Each Unit consists of one common share of the
Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant").
Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price
of $2.37 per Common Share for a period of 36 months from the closing date of the Offering.
The
securities issued pursuant to the Private Placement are subject to a regulatory hold period of four
months and one day from the closing date.
The Company intends to use the net proceeds to advance the Morrison Project through the completion
of: an updated NI 43-101 compliant mineral resource estimate; a comprehensive NI 43-101 compliant
Pre-Feasibility Study designed to evaluate the technical and economic viability of the Morrison Project
using updated geological, metallurgical, engineering, environmental and market assumptions;
supporting geological, metallurgical, geotechnical, environmental and engineering programs; permitting
and stakeholder engagement activities where appropriate; corporate communications; and general
working capital.
The Pre-Feasibility Study is expected to be supported by an updated NI 43-101
compliant mineral resource estimate prepared using current geological interpretations together with
updated metal prices, operating cost assumptions, metallurgical recoveries and pit optimization
parameters.
The decision to advance the Morrison Project toward a Pre-Feasibility Study followed the
recommendation of the Company's independent Technical Advisory Board after reviewing the available
geological, metallurgical, engineering and environmental information, together with an internal
conceptual-level technical and economic review prepared by Tetra Tech Canada Inc., site inspections
and comprehensive drill core review.
The Technical Advisory Board concluded that sufficient technical
information exists to support advancing the Project to the Pre-Feasibility Study stage.
The Board believes completion of an updated mineral resource estimate and Pre-Feasibility Study will
provide a modern technical evaluation of the Morrison Project, improve the quality of information
available and support the Company's ongoing strategic review process.
Finder's fees in the aggregate amount of $15,824 will be paid in cash and 7,360 broker warrants will be
issued in connection with the Private Placement.
A director of the Company participated in the Private
Placement by acquiring an aggregate of 46,512 Units at the offering price under the Private Placement,
demonstrating continued alignment between insiders and shareholders.
The sale of such Units to the
director was approved by the disinterested directors of the Company and is exempt from the valuation
and minority approval provisions of Multilateral Instrument 61-101 pursuant to Sections 5.5(b) and (c)
and 5.7(1)(a), respectively, of such instrument.
The scientific and technical information contained in this news release has been reviewed and
approved by Leo Hathaway, P.Geo., Chairman of the Company's Technical Advisory Board, a
Qualified Person as defined under National Instrument 43-101.
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PBM can be contacted by phone at 604 681-8556.
On Behalf of the Board of Directors
"John Plourde"
John Plourde, Director
Contact Information:
John Plourde, CEO, President and Director
(604) 681-8556
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release contains "forward-looking information" within the meaning of the applicable
Canadian securities legislation that is based on expectations, estimates, projections and
interpretations as at the date of this news release.
Any statement that involves discussions with
respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always using phrases such as "expects", or
"does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and
may be forward-looking information and are intended to identify forward-looking information.
Forward-
looking information in this news release includes, but is not limited to, statements regarding: the use
of proceeds of the Offering, Company's ability to obtain the final approval of the TSX Venture
Exchange; preparation of an updated technical report and mineral resource estimate; and the
Company's ongoing strategic review process.
This forward-looking information is based on reasonable assumptions and estimates of management
of the Company at the time such assumptions and estimates were made, and involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of Pacific Booker to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, the risks described in the Company's most recent
management discussion and analysis and those risks set out in the Company's other public
documents filed on SEDAR+ (www.sedarplus.ca) under Pacific Booker's issuer profile.
Although the
Company believes that the assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on such information, which
only applies as of the date of this news release, and no assurance can be given that such events will
occur in the disclosed timeframes or at all.
The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, other than as required by law.
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