Pacific Imperial Announces Consolidation and Non-Brokered Private Placement

Pacific Imperial Mines Inc. (ppm) announced a 10-for-1 share consolidation aimed at increasing market price competitiveness. Concurrently, the company is executing a non-brokered private placement of up to 53,333,333 post-consolidation units at $0.075 per unit. Gross proceeds are targeted at up to $4,000,000, which will be allocated to the Fenton and Babine mineral properties and general working capital. Each unit includes one warrant exercisable at $0.10 per share for a five-year term. The transaction requires TSX Venture Exchange approval and imposes a four-month hold period on the issued securities.

Pacific Imperial Mines Inc. (ppm) raised $4,000,000 to provide critical liquidity for near-term earn-in obligations on the Fenton and Babine properties, a move directly addressing the company's going concern status. The placement price of $0.075 represents a ~650% premium to the current $0.01 market price.

The transaction results in severe dilution, with the issuance of ~53.3M new units against ~9.3M existing post-consolidation shares representing an ~85% increase in the share count. The accompanying warrants add further potential dilution, with 53.3M warrants exercisable at $0.10. While the capital raise mitigates immediate insolvency risk, it extends the cash burn runway without generating revenue.

Pacific Imperial Mines Inc. (ppm) is a mineral exploration company focused on precious metals and copper projects in British Columbia. Its flagship asset is the 1,700-hectare Fenton Property, an epithermal, high-to-low-sulphidation precious metal system hosted in felsic volcanic rocks that is geologically similar to the Artemis Blackwater deposit.

The company also holds the 2,226-hectare Babine Property, located in the Babine Porphyry Belt. This secondary asset shows porphyry copper potential with magnetic anomalies comparable to historic producers like Granisle and Bell. Both properties are in the early exploration stage and are under option agreements requiring significant staged exploration expenditures and cash or share payments over multi-year periods.