Pacific Booker Minerals Inc. Announces Closing of Non-Brokered Private Placement

Pacific Booker Minerals Inc. (BKM) announced the closing of its previously announced non-brokered private placement, which was upsized from an initial $10 million target to $12 million in gross proceeds. The company issued 5,128,206 units at a price of $2.34 per unit. Each unit includes one common share and one transferable warrant exercisable at $2.75 per share for 36 months.

Net proceeds will advance the Morrison copper-gold project and fund general corporate purposes. The offering involved related party participation on the same terms as arms-length investors, relying on MI 61-101 exemptions. Lock-up periods include a statutory hold of four months and one day, and a contractual lock-up of six months for subscribers. No finder's fees or commissions were paid.

Pacific Booker Minerals Inc. (BKM) has closed its $12 million financing, securing immediate liquidity to fund the ongoing Pre-Feasibility Study (PFS) and updated mineral resource estimate for the Morrison project. The updated resource estimate is targeted for completion in Q1 2027. The transaction was executed at a price of $2.34 per unit, representing a significant discount to the recent trading range of $3.75 to $4.25. While this pricing structure is standard for non-brokered private placements, it introduces short-term dilution pressure.

The financing addresses the company's capital needs without incurring debt or paying finder's fees, thereby preserving cash for technical work. This move aligns with the company's stated strategic review and technical advancement roadmap, removing near-term funding uncertainty. The market had already priced in the financing announcement, with the stock rallying from $2.90 in early October to over $4.00 by November. The closing itself serves as an expected administrative step that confirms the capital raise.

Pacific Booker Minerals Inc. is a Canadian junior exploration company focused on the Morrison copper-gold-molybdenum project in central British Columbia. The project is in the advanced exploration stage and has no production history.

The site hosts a substantial mineral resource, with Measured and Indicated resources of 208 million tonnes at 0.39% copper, 0.19 g/t gold, and 0.005% molybdenum, plus Inferred resources of 63 million tonnes. The company is advancing the project through a Pre-Feasibility Study (PFS) led by Tetra Tech Canada Inc., with completion targeted for Q1 2027.

Environmental permitting requires active support from the Lake Babine Nation, following a denied environmental assessment certificate in 2022.