Pacific Imperial Mines Announces Closing of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
Pacific Imperial Mines Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia / December 31, 2020 – Pacific Imperial Mines Inc. (TSX.V: PPM) (“Pacific
Imperial” or the “Company”) announces that, further to its news release of December 11, 2020, and subject to the
final approval of the TSX Venture Exchange (the “ Exchange”), it has closed its non-brokered private placement
(the “Private Placement”) raising gross proceeds of $245,000 through the issuance of 4,900,000 flow-through units
(each a “FT Unit”) at a price of $0. 05 per FT Unit. Each FT Unit consists of one flow-through common share and
one transferable common share purchase warrant (a “ Warrant”) with each Warrant exercisable to purchase one
additional common share (a “Share”) in the capital of the Company at a price of $0.10 per Share for a period of two
years.
The Company paid finder’s fees of $19,600 and 392,000 finder’s warrants (the “Finder’s Warrants”) to Canaccord
Genuity Corp. The Finder’s Warrants are non -transferable and exercisable at $0.10 per Finder’s Warrant for a
period of two years.
All securities issued in the Private Placement are subject to a hold period of four months and one day following the
closing date of the Private Placement.
The Company intends to use the gross proceeds of the Private Placement for payments related to the work programs
on the TREK 31 P roject, which includes Induced Polarization (IP) geophysical survey across the source area of the
till anomaly to target areas of anomalous chargeability and resistivity for identification of drill ta rgets. Drill targets
are expected to be identified in the first quarter of 2021.
Technical details on the TREK 31 Project have been previously release d by Orogen Royalties Inc. and can be found
at:
https://www.orogenroyalties.com/news/orogen-options-the-trek-31-gold-project-to-pacific-imperial-mines
About Pacific Imperial Mines Inc.
Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the acquisition,
exploration, evaluation and development of mineral properties in an acceptable risk environment.
The Company’s current focus is on the acquisition of gold and base metal properties. The Company’ s, board of
directors, management team and technical advisors have collective geological and financing experience exceeding
200 years.
ON BEHALF OF THE BOARD OF DIRECTORS
“Chris McLeod”
Chris McLeod, President
2
For further information please contact:
Roman Shklanka, Chairman, at 604-649-6195, or Chris McLeod, President, at 604-669-6332
Email: [email protected]
Neither 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.
Forward Looking Information
This news release incl udes certain statements that may be deemed "forward looking statements". All statements in
this news release, other than statements of historical facts, that address events or developments that Pacific Imperial
Mines Inc. (the “Company”) expects to occur, are forward looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential " and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results may differ
materially from those in the forward looking statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include market prices, ex ploitation and exploration successes,
and continued availability of capital and financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future performance and actual results or developments
may differ materially from those projected in the forward looking statements. Forward looking statements are based
on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as
required by securities laws, the Company undertakes no obligation to update these forward looking statements in the
event that management's beliefs, estimates or opinions, or other factors, should change.
A number of mineral resources or significant occurrences disclose d herein relate to nearby properties owned by
other companies, and the data presented have been extracted from these companies’ press releases and websites. A
Qualified Person has been unable to verify this information from the adjacent properties, and su ch results are not
necessarily indicative of potential quantities or grades of mineralization on the Company’s properties.
The securities referred to in this news release 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 applicable securities laws of any state of the United States, and
may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is
defined in Re gulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S.
Securities Act and any other applicable securities laws of the United States or an exemption from such registration
requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any
jurisdiction, including the United States. 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.