American Pacific increases private placement to $9.75M

Executive Summary

• American Pacific Mining Corp. has upsized its fully subscribed non-brokered private placement from $7.5 million to $9.75 million due to strong investor demand.
• The financing consists of 44,318,182 units, fully subscribed, with the order book now closed.
• Proceeds will be used for exploration and development of the Madison copper-gold project in Montana, other mineral projects, and general corporate purposes.

Key Details

• Transaction Type: Non-brokered private placement (upsized).
• Previous Size: 34,090,909 units at $0.22 per unit for gross proceeds of $7.5 million.
• New Size: 44,318,182 units for gross proceeds of $9.75 million.
• Subscription Status: Fully subscribed; order book closed.
• Use of Proceeds: Exploration and development of the Madison copper-gold project, other mineral exploration and development projects, and general corporate purposes.
• Finder: Eventus Capital Corp. appointed as a finder; company may pay a finder's fee to eligible arm's-length finders in accordance with Canadian Securities Exchange policies.
• Regulatory Context: Conducted under the listed issuer financing exemption (Part 5A of National Instrument 45-106); securities are not subject to a hold period.
• Closing: Expected as soon as practicable, potentially in one or more tranches.
• Strategic Context: CEO Warwick Smith stated the financing supports a robust drill program to delineate a first mineral resource estimate at Madison and test skarn and porphyry targets. The company also holds a significant equity position in Vizsla Copper (Palmer project, Alaska) via a 2025 transaction.

Notable Quotes

• "We appreciate the strong investor participation in this financing, which underscores the market's confidence in our strategy of advancing our highly prospective Madison copper-gold project in Montana, while also providing exposure to a significant equity portfolio of exceptional western U.S. copper, gold and silver company," commented chief executive officer Warwick Smith.
• "Following the closing of this financing, we intend to undertake a robust drill program aimed at delineating a first mineral resource estimate at Madison, while also testing the full scope of the project by drilling both skarn and porphyry targets."