Pacific Bay Extends Closing Date of Remaining Flow- Through, Non Flow-Through Non-Brokered Financing
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Pacific Bay Extends Closing Date of Remaining Flow-
Through, Non Flow-Through Non-Brokered Financing
For Immediate Release . Vancouver, British Columbia, December 22, 2020. David H.
Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or
the “Company”) reports that the Company has received TS X Venture Exchange
approval to extend the closing of the remaining $171,500 of a $537,500 non-brokered
flow-through and non flow -through private placement announced on November 4, 2020
(the “Financing”) to January 21, 2021. A $366,000 first tranche of the Financing was
closed on Decembe r 8, 2020. As yet unclosed are 113,200 flow-through units (the “FT
Units”) at a price of $0.175 per FT Unit and 1,210,000 non flow-through units (the “NFT
Units”) at a price of $0.125 per NFT Unit. Each FT Unit consist s of one common share
and one warrant to purchase one non flow -through share at a price of $0.225 for one
year. Each NFT Unit consists of one common share and one warrant to purchase one
additional common share at a price of $0.175 for one year.
The Company may pay finder’s fees on all or part of the remaining Financing in
accordance with the policies of the TSX Venture Exchange.
The Company plans to use the proceeds of the financing to explore its 100% owned
British Columbia gold and polymetallic properties and for working capital purposes.
Pacific Bay Minerals Ltd.
Per/
David H. Brett, MBA
President & CEO
Contact: David Brett, 604-682-2421, [email protected]
This news release contains “fo rward‐looking statements” within the meaning of Canadian securities
legislation. Forward ‐looking statements include, but are not limited to, statements with respect to the
anticipated closing of the remaining portion of the Financing, the expected use of p roceeds of the FT Unit
private placement and NFT Unit private placement, and tax treatment of renunciation of the flow-through
expenditures. Such statements and information are based on numerous assumptions regarding present and
future business strategies and the environment in which Pacific Bay will operate in the future, including the
tax treatment and timing of renunciation of the flow-through expenditures . Certain important factors that
could cause actual results, performances or achievements to differ materially from those in the
forward‐looking statements include, amongst others, the global economic climate, dilution, share price
volatility and competition. Although Pacific Bay has attempted to identify important factors that could cause
Pacific Bay Minerals Ltd.
120 – 601 W. Cordova Street
Vancouver, BC, V6B 1G1
Phone: 604-682-2421
14517245.1
actual results to d iffer materially from those contained in forward ‐looking statements, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual res ults and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward‐looking statements. Pacific Bay does not undertake to update any forward ‐looking statements,
except in accordance with applicable securities laws.
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.