STOCK TITAN

Pampa Metals Closes Oversubscribed $2M Private Placement

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Pampa Metals Corp. closes an oversubscribed $2M private placement, issuing 8,427,500 units at $0.24 per unit. The proceeds will fund exploration at the Piuquenes Copper-Gold Porphyry Project, following positive drillhole results. The company also granted stock options and RSUs to key personnel.
Pampa Metals Corp. chiude un collocamento privato sovra-sottoscritto da 2 milioni di dollari, emettendo 8.427.500 unità al prezzo di 0,24 dollari per unità. I proventi finanzieranno l'esplorazione nel Progetto di Porfido di Rame-Oro di Piuquenes, in seguito ai risultati positivi dei sondaggi. La società ha inoltre concesso opzioni azionarie e RSU al personale chiave.
Pampa Metals Corp. cierra una colocación privada sobre suscrita de $2M, emitiendo 8.427.500 unidades a $0.24 por unidad. Los ingresos financiarán la exploración en el Proyecto Pórfido de Cobre-Oro Piuquenes, tras obtener resultados positivos en los sondeos. La compañía también otorgó opciones de acciones y RSUs al personal clave.
Pampa Metals Corp.는 주당 $0.24에 8,427,500개 단위를 발행하여 200만 달러 규모의 초과 청약 사모 플레이스먼트를 마감했습니다. 이 자금은 긍정적인 시추 결과에 따라 Piuquenes 구리-금 포르피리 프로젝트 탐사에 사용될 예정입니다. 또한 회사는 핵심 인력에게 스톡옵션과 RSU를 부여했습니다.
Pampa Metals Corp. clôture un placement privé sursouscrit de 2 millions de dollars, émettant 8 427 500 unités à 0,24 dollar par unité. Les fonds recueillis financeront l'exploration du Projet de Porphyre Cuivre-Or de Piuquenes, suite aux résultats positifs des forages. La société a également accordé des options d'achat d'actions et des RSU au personnel clé.
Pampa Metals Corp. schließt eine überzeichnete private Platzierung von 2 Millionen Dollar ab, wobei 8.427.500 Einheiten zu je 0,24 Dollar ausgegeben werden. Die Erlöse werden zur Finanzierung der Erkundung des Piuquenes Kupfer-Gold-Porphyr-Projekts nach positiven Bohrlochergebnissen verwendet. Das Unternehmen hat auch Aktienoptionen und RSUs an Schlüsselpersonal vergeben.
Positive
  • Pampa Metals successfully closed an oversubscribed $2M private placement, issuing 8,427,500 units at $0.24 per unit.
  • The proceeds of $2,022,600 will be used to fund ongoing exploration activities at the Piuquenes Copper-Gold Porphyry Project.
  • Positive drillhole results were reported, including significant copper, gold, and silver grades.
  • Specialist resources fund and long-term shareholders were allocated units in the private placement.
  • Finder's fees of $75,852 were paid, and finder's warrants were issued to specific entities.
  • Stock options and RSUs were granted to key personnel, including the President & CEO, Directors, CFO, and consultants.
Negative
  • None.

VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQX®:PMMCF) is pleased to announce that it has issued 8,427,500 units ("Units") at a price of $0.24 per Unit, under the Non-Brokered Private Placement offering (the "Offering") detailed in an April 8, 2024 News Release, for gross proceeds of $2,022,600. Each Unit consists of one fully paid common share and a half share purchase warrant entitling the holder to acquire an additional common share at a price of $0.40 for a period of 3 years after the closing of the Offering.

Units were allocated to a specialist resources fund and supportive long-term shareholders.

Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently reported results from the first drillhole (refer 18 March 2024 News Release) including:

422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (from 198 m);

including 132 m @ 0.71% Cu, 0.85 g/t Au, 4.3 g/t Ag (from 220m);

Including 80 m @ 0.6% Cu, 0.77 g/t Au, 3.2 g/t Ag (from 468m).

The Company paid aggregate finder's fees of $75,852 and issued 316,050 finder's warrants to Canaccord Genuity Inc, Haywood Securities Inc, Raymond James Ltd and PI Financial Corp. All securities issued under the Offering are subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable.

Grant of Incentive Stock Options and RSUs
The Company has granted a total of 800,000 stock options and 650,000 restricted share units ("RSUs") to its President & CEO, Directors, CFO and three consultants. The stock options are exercisable at $0.40 until April 17, 2026 and the RSUs will vest upon the 10-day volume weighted average trading price of the common shares being equal to $0.40.

ON BEHALF OF THE BOARD INVESTOR CONTACT
Joseph van den Elsen | President & CEO Joseph van den Elsen | Joseph@pampametals.com

ABOUT PAMPA METALS
Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE:FIR), and OTC (OTCQB:PMMCF) exchanges.

In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina. Reported intervals of significant copper and gold mineralization at Piuquenes Central include:

413.5 m@ 0.47% Cu, 0.52 g/t Au (167-580.5 m);

422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (198 - 620m);

including 132m @ 0.71% Cu, 0.85 g/t Au, 4.3 g/t Ag (220 - 352m);

including 80m @ 0.6% Cu, 0.77 g/t Au, 3.2 g/t Ag (468 - 548m)

558.2 m @ 0.38% Cu, 0.42 g/t Au, 2.4 g/t Ag (362-920.2 m EOH)

including 130 m @ 0.81% Cu, 0.6 g/t Au, 4 g/t Ag (362-492 m)

Qualified Person
Technical information in this news release has been approved by Mario Orrego G. Mr. Orrego G. is a Geologist, a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego G. is a consultant to the Company.

Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.

SOURCE: Pampa Metals Corp.



View the original press release on accesswire.com

FAQ

How much was raised in Pampa Metals' private placement?

Pampa Metals raised $2,022,600 in their oversubscribed private placement by issuing 8,427,500 units at $0.24 per unit.

What project will the proceeds from the private placement fund?

The proceeds from the private placement will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project.

What were the results from the first drillhole at the Piuquenes project?

Results from the first drillhole at the Piuquenes project included 422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag, among other significant grades.

Who were allocated units in the private placement?

Units in the private placement were allocated to a specialist resources fund and supportive long-term shareholders.

What securities were issued under the private placement?

Securities issued under the private placement include finder's warrants and stock options, as well as restricted share units (RSUs).

PAMPA METALS CORP

OTC:PMMCF

PMMCF Rankings

PMMCF Latest News

PMMCF Stock Data

10.97M
78.90M
5.13%
13.01%
Other Industrial Metals & Mining
Basic Materials
Link
United States of America
Vancouver