Vancouver, September 6, 2023 - Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or, the "Company") reports that the Company has closed partial proceeds of the non-brokered, $500,000 private placement announced May 15, 2023, amended terms of which were announced May 30th, 2023 (the "Financing"), totaling $28,000. The balance of the Financing will not be proceeding. According to the amended terms of the Financing, the Company issued 560,000 units at $0.05 per share, consisting of one share and one warrant to purchase an additional share for three years at $0.10 per share. Proceeds of the Financing will be used for general working capital purposes. No finder's fees or commissions were paid with respect to the Financing.
About Pacific Bay Minerals Limited
Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition, exploration, and development of mining projects. Pacific Bay Minerals is focused on its 100% owned properties located in British Columbia: Wheaton Creek Gold, Haskins Reed Polymetalic, and Weaver Gold.
Pacific Bay Minerals Ltd.
Per/
Reagan Glazier, President and CEO
reagan@pacificbayminerals.com
(604) 682-2421
pacificbayminerals.com / Twitter / LinkedIn
This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to: the timing for and expected completion of the debt consolidation transactions, statements regarding the financial condition of the Company, spending commitments, and regulatory approvals (including approvals of the TSXV). Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition, results of exploration activities and development of the Company's properties, and risks relating to regulatory approvals. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179787
