Pacific Bay Minerals Ltd. Announces $2 Million Private Placement to Advance Pereira-Velho Gold Project in Brazil
Pacific Bay Minerals (TSXV: PBM) has announced a non-brokered private placement offering of up to 20 million units at $0.10 per unit, aiming to raise $2 million in gross proceeds. Each unit includes one common share and one warrant exercisable at $0.15 per share for 24 months.
The proceeds will primarily fund the acquisition and early-stage exploration of the Pereira-Velho Gold Project in Brazil. The company also announced that Elton Pereira has been appointed as Country Manager, Brazil, transitioning from his previous role as VP of Exploration.
The offering is expected to close around July 17, 2025, with a four-month hold period on securities. The company may pay 7% finder's fees in cash and warrants on completed subscriptions.
Pacific Bay Minerals (TSXV: PBM) ha annunciato un'offerta privata senza intermediari fino a 20 milioni di unit脿 a 0,10$ per unit脿, con l'obiettivo di raccogliere 2 milioni di dollari di proventi lordi. Ogni unit脿 comprende una azione ordinaria e un warrant esercitabile a 0,15$ per azione per 24 mesi.
I proventi saranno principalmente utilizzati per finanziare l'acquisizione e l'esplorazione iniziale del Progetto Oro Pereira-Velho in Brasile. La societ脿 ha inoltre annunciato la nomina di Elton Pereira come Country Manager per il Brasile, passando dal suo precedente ruolo di VP dell'Esplorazione.
L'offerta dovrebbe chiudersi intorno al 17 luglio 2025, con un periodo di blocco di quattro mesi sui titoli. La societ脿 potr脿 corrispondere commissioni di ricerca del 7% in contanti e warrant sulle sottoscrizioni completate.
Pacific Bay Minerals (TSXV: PBM) ha anunciado una colocaci贸n privada sin intermediarios de hasta 20 millones de unidades a 0,10$ por unidad, con el objetivo de recaudar 2 millones de d贸lares en ingresos brutos. Cada unidad incluye una acci贸n com煤n y un warrant ejercitable a 0,15$ por acci贸n durante 24 meses.
Los fondos se destinar谩n principalmente a la adquisici贸n y exploraci贸n temprana del Proyecto de Oro Pereira-Velho en Brasil. La empresa tambi茅n anunci贸 que Elton Pereira ha sido nombrado Gerente de Pa铆s para Brasil, pasando de su anterior cargo como VP de Exploraci贸n.
Se espera que la oferta cierre alrededor del 17 de julio de 2025, con un periodo de retenci贸n de cuatro meses sobre los valores. La empresa podr谩 pagar comisiones de b煤squeda del 7% en efectivo y warrants sobre las suscripciones completadas.
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Pacific Bay Minerals (TSXV : PBM) a annonc茅 une offre priv茅e sans courtier de jusqu'脿 20 millions d'unit茅s 脿 0,10 $ par unit茅, visant 脿 lever 2 millions de dollars de produits bruts. Chaque unit茅 comprend une action ordinaire et un bon de souscription exer莽able 脿 0,15 $ par action pendant 24 mois.
Les fonds seront principalement utilis茅s pour financer l'acquisition et l'exploration pr茅coce du projet aurif猫re Pereira-Velho au Br茅sil. La soci茅t茅 a 茅galement annonc茅 la nomination de Elton Pereira en tant que directeur pays pour le Br茅sil, passant de son poste pr茅c茅dent de vice-pr茅sident de l'exploration.
L'offre devrait se cl么turer aux alentours du 17 juillet 2025, avec une p茅riode de blocage de quatre mois sur les titres. La soci茅t茅 pourra verser des frais de recherche de 7 % en esp猫ces et en bons de souscription sur les souscriptions compl茅t茅es.
Pacific Bay Minerals (TSXV: PBM) hat eine nicht vermittelte Privatplatzierung von bis zu 20 Millionen Einheiten zu je 0,10 $ angek眉ndigt, mit dem Ziel, 2 Millionen Dollar Bruttoerl枚s zu erzielen. Jede Einheit umfasst eine Stammaktie und einen Warrant, der 24 Monate lang zu 0,15 $ pro Aktie ausge眉bt werden kann.
Die Erl枚se werden haupts盲chlich f眉r den Erwerb und die Fr眉hphasenexploration des Pereira-Velho Goldprojekts in Brasilien verwendet. Das Unternehmen gab au脽erdem bekannt, dass Elton Pereira zum Country Manager Brasilien ernannt wurde und damit von seiner bisherigen Position als VP Exploration wechselt.
Die Platzierung soll etwa am 17. Juli 2025 abgeschlossen werden, mit einer viermonatigen Haltefrist f眉r die Wertpapiere. Das Unternehmen kann Findergeb眉hren von 7 % in bar und in Warrants auf abgeschlossene Zeichnungen zahlen.
- Raising $2 million to fund strategic gold project acquisition in Brazil
- Warrant acceleration clause if stock price exceeds $0.25 for 20 consecutive days
- Strategic appointment of former VP Exploration as Brazil Country Manager
- Insider participation indicates management confidence in the offering
- Significant dilution with 20 million new units being issued
- Additional dilution possible through warrant exercise
- 7% finder's fees will reduce net proceeds from the offering
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Pacific Bay Minerals Ltd. (TSXV: PBM) ("PacBay" or the "Company") is pleased to announce a non-brokered private placement of up to 20,000,000 units (the "Units") at a price of
Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable to acquire one additional common share at a price of
The Company may pay finder's fees to eligible parties consisting of
The Offering is expected to close on or about July 17, 2025, and is subject to regulatory approvals including the acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month and one day hold period under applicable Canadian securities laws.
Use of Proceeds
Net proceeds from the Offering will primarily be used to complete the acquisition of the Pereira-Velho Gold Project in Alagoas State, Brazil, and to fund early-stage exploration. Remaining funds may support exploration on the Company's Canadian assets and general corporate activities.
Insider Participation
Certain insiders of the Company may participate in the Offering. Any such participation would be considered a "related party transaction" under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company intends to rely on available exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101.
Disclaimer
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Pacific Bay is pleased to announce that Elton Pereira, formerly Vice President, Exploration, has transitioned to the role of Country Manager, Brazil. This change reflects the Company's strategic focus on advancing the Pereira-Velho Gold Project and better aligns with Mr. Pereira's operational leadership and local expertise in Brazil.
About Pacific Bay Minerals Ltd.
Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition, exploration, and development of mining projects. The Company is currently focused on advancing its Pereira-Velho Gold Project in Brazil and holds
Contact Information
Reagan Glazier
President & CEO
Tel: +1 403 815 6663
[email protected]
Forward-Looking Statement
This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", "intends", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company's expectations regarding the closing date of the Offering, the anticipated size of the Offering and other matters. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
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FAQ
What is the size and price of Pacific Bay Minerals' (PBMFF) private placement offering?
How will Pacific Bay Minerals use the proceeds from the $2M private placement?
What are the terms of the warrants in Pacific Bay's private placement?
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When will Pacific Bay Minerals' private placement close?
