Pacific Empire sees placement oversubscribed

Executive Summary

• Pacific Empire’s previously announced non‑brokered private placement has been oversubscribed, increasing the target raise to up to $1.525 million.
• The offering now includes 23 M hard‑dollar units at $0.035 each and 18 M flow‑through units at $0.04 each, each unit carrying a common share (or flow‑through share) and a warrant exercisable for two years.
• Effective immediately, Leon Ho replaces Doug Reed as Chief Financial Officer.

Key Details

• Original raise: Up to $1,125,000; now increased to up to $1,525,000 due to strong investor demand.
• Hard‑dollar units: 23 million units @ $0.035 per unit → $805,000 gross proceeds. Each unit = 1 common share + 1 warrant (exercise price $0.05, two‑year term).
• Flow‑through units: 18 million units @ $0.040 per unit → $720,000 gross proceeds. Each unit = 1 flow‑through common share + 1 warrant (exercise price $0.06, two‑year term).
• Use of proceeds: Fund the fully permitted 2025 diamond drill program at the Trident copper‑gold‑silver porphyry project in north‑central British Columbia and provide general working capital.
• Closing conditions: Subject to customary approvals, including TSX Venture Exchange approval.
• CFO appointment: Leon Ho appointed CFO effective immediately; replaces Doug Reed.
• Leon Ho background: Chartered Professional Accountant with extensive experience advising mining exploration companies at Cross Davis & Company LLP.

Notable Quotes

“The strong demand for our financing and subsequent oversubscription is a clear sign of growing support for our vision at Trident… I would also like to extend my gratitude to Doug Reed for his years of service as CFO and warmly welcome Leon Ho to the team.” – Brad Peters, President & CEO.