Pacific Imperial Announces Closing of Debt Settlement

Pacific Imperial Mines Inc. announced the closing of a debt settlement on September 11, 2026, resolving $149,306.59 owed to insiders Chris McLeod and Peter Holbek by issuing 9,953,772 common shares at a deemed price of $0.015 per share. The settlement triggers an Early Warning Report as CEO Chris McLeod's beneficial ownership crosses the 10% threshold, rising to approximately 17.55% non-diluted. These newly issued shares carry a hold period expiring January 12, 2027.

This closing follows the September 9, 2026 announcement of a 10:1 share consolidation and a concurrent non-brokered private placement targeting up to $4,000,000 in gross proceeds at $0.075 per post-consolidation unit. The transaction sequence represents the finalization of a multi-step capital restructuring aimed at stabilizing the balance sheet and improving market price competitiveness.

Pacific Imperial Mines Inc. (ppm) confirmed the September 11 closing as a procedural follow-up to previously announced corporate actions, marking the execution of its debt restructuring. The company did not introduce new market-moving information with this announcement.

The restructuring includes a 10:1 share consolidation intended to lift the share price out of the sub-penny range, a move designed to potentially attract broader retail and institutional interest. Concurrently, the company executed a $4,000,000 private placement at $0.075 per post-consolidation unit. This transaction introduces substantial dilution, resulting in approximately 53.3 million new post-consolidation shares.

The debt settlement removes a minor liability but significantly concentrates ownership within management. This reliance on insider financing underscores the company's limited access to public capital markets. The news is considered expected and incremental, aligning with the company's stated need to raise working capital and fund earn-in commitments for the Fenton and Babine properties. The material impact of these actions hinges on the successful closing of the private placement, which remains subject to approval by the TSX Venture Exchange.

Pacific Imperial Mines Inc. (ppm) is an exploration-stage mineral company focused on precious and base metal targets in British Columbia. Its flagship assets include the 1,700-hectare Fenton Property, an epithermal high-to-low sulphidation precious metal system, and the 2,226-hectare Babine Property, which holds porphyry copper potential in the Babine Porphyry Belt. The company is in the early exploration phase with no revenue, no proven reserves, and no operating cash flow. Development is contingent on meeting earn-in requirements and securing external financing.