Pacific Bay Minerals Announces $500,000 Non- Brokered Private Placement
Pacific Bay Minerals Announces $500,000 Non-
Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
May 11, 2023, Vancouver, British Columbia – Pacific Bay Minerals Ltd. (TSXV:
PBM) (“PacBay” or the “Company is pleased to announce a non -brokered private
placement of up to 7,150,000 units (the " Units") of the Company at a price of $0.07 per
Unit for gross proceeds of up to $500,500 (the “Offering”). Each Unit will consist of one
common share (each, a “ Share”) and one -half of one Share purchase warrant (each
whole warrant, a “ Warrant”), with each Warrant entitling the holder to acquire an
additional Share at a price of $0.12 per Share for a period of 36 months from the closing
date of the Offering.
The Offering is expected to close on or about May 30, 2023, and is subject to certain
conditions including, but not limited to, the receipt of all necessary regulatory approvals.
The securities issued pursuant to the Offering will be subject to a four month hold period
from the date of closing of the Offering.
Proceeds from the Offering will be used to advance the ongoing exploration at the Atlin
Goldfields Property optioned by the Company in northern British Columbia, and to make
payment to Brixton Metals Corp. as per the option-agreement on the property.
In connection with the Offering, certain finders may receive a cash fee and / or non -
transferable finder warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “ U.S.
Securities Act”) or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
About Pacific Bay Minerals Ltd.
The Company has an option to earn a 100% interest in the Atlin Goldfields Property, an
early-stage exploration project containing the Yellowjacket deposit among several other
prospective gold projects neighbouring the Atlin hydroele ctric project. The Yellowjacket
deposit contains a historic gold mineralization resource, is located 10 kilometers away
from the town of Atlin and has year-round, maintained road access.
Contact Information
Reagan Glazier
Chief Executive Officer, President
Telephone: +1 403 815 6663 or +1 604 558 5847
http://www.pacificbayminerals.com/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that ter m 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 statements, which relate to future events.
In some cases, you can identify forward -looking statements by terminology such as
"will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms
or other comparable terminology. All statements included herein, other than statements
of historical fact, are forward looki ng statements, including but not limited to the
Company’s expectations regarding the closing date of the Offering, the anticipated size
of the Offering, the Company’s plans regarding the Atlin Goldfields Property and other
matters. These statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause the Company’s actual results, level of
activity, performance, or achievements to be materially different from any future results,
levels of activity, performance, or achievements expressed or implied by these forward -
looking-statements. Such uncertainties and risks may include, among others, actual
results of the Company's exploration activities being different than those expected by
management, delays in obtaining or failure to obtain required government or other
regulatory approvals, the ability to obtain adequate financing to conduct its planned
exploration programs, inability to procure labour, equipment and supplies in sufficient
quantities and on a timely basis, equipment breakdown, and bad weather. While these
forward-looking statements, and any assumptions upon which they are based, are
made in good faith, and reflect the Company's current judgment regarding the direction
of its business, actual results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions, or other future performance
suggestions herein. Except as required by applicable law, the Company does not intend
to update any forward-looking statements to conform these statements to actual results.