American Pacific arranges $7.5M private placement

Executive Summary

• American Pacific Mining Corp. has arranged a non-brokered private placement offering of up to 34,090,909 units at a price of 22 cents per unit, raising aggregate proceeds of up to $7.5 million.
• Each unit consists of one common share and one-half of one share purchase warrant, with warrants exercisable at 32 cents per share for three years.
• Net proceeds are intended for exploration and development of the Madison project and other mineral projects, as well as general corporate purposes.

Key Details

• Offering Size: Up to 34,090,909 units.
• Price: 22 cents per unit.
• Gross Proceeds: Up to $7.5 million.
• Unit Composition: One common share and one-half of one share purchase warrant per unit.
• Warrant Terms: Each warrant entitles the holder to acquire one additional share at an exercise price of 32 cents per warrant share.
• Warrant Expiry: Three years from closing.
• Resale Restrictions: Securities issued under the listed issuer financing exemption are not subject to a resale hold period. Securities issued under other exemptions are subject to a four-month hold period in Canada.
• Use of Proceeds: Exploration and development of the Madison project and other mineral exploration/development projects, plus general corporate purposes.
• Finder: Eventus Capital Corp. has been appointed as a finder; the company expects to pay finders' fees to eligible arm's-length finders.
• Regulatory Basis: Offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106.
• Closing Conditions: Subject to customary closing conditions, including regulatory approvals (including Canadian Securities Exchange approval).
• Closing Timeline: Expected to occur as soon as practicable.

Notable Quotes

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