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April 22, 2021 - Vancouver, BC, Canada - Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (“Pacific Empire”, “PEMC” or the “Company”), a British Columbia copper explorer, announces that it intends to issue, pursuant to a non-brokered private placement, up to 15,000,000 units at $0.06 per unit (the “Units”) for gross proceeds of $900,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company ("Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share (each, a "Warrant Share") at an exercise price of $0.10 per Warrant Share until 5:00 pm (Pacific Standard time) on that date that is 24 months from the issuance closing date (the "Expiry Time").
The funds will be used for exploration on its flagship Jean Marie copper-gold project and for general working purposes.
Closing of the Offering is expected to occur on or around April 30, 2021 and is subject to all necessary approvals, including the approval of the TSX Venture Exchange.
The Company is also pleased to announce that it has expanded the land position at its Jean Marie project to 10,787 hectares. An additional 2,620 hectares was staked to extend the northern portion of the property to cover a favorable structural architecture where the Company identified attractive geochemical signatures.
Thomas Hawkins, P.Geo., Vice President of Exploration for the Company, serves as a qualified person as defined by NI 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
About Pacific Empire
Pacific Empire is a copper exploration company based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the symbol PEMC. The Company’s strong portfolio of gold-enriched copper projects in British Columbia, is the culmination of perseverance through one of the longest bear markets in the resource industry.
British Columbia is a “Green” copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.
ON BEHALF OF THE BOARD,
President and Chief Executive Officer
Pacific Empire Minerals Corp.
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.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation: closing of the Offering is expected to occur on or around April 30, 2021, the funds will be used for exploration on its flagship Jean Marie copper-gold project and for general working purposes, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.