Pacific Booker Minerals (BKM.V) will not be proceeding with a non-brokered private placement as announced on April 30, 2026, said the company after markets closed on Wednesday.
The company plans to undertake a non-brokered private placement financing to raise gross proceeds of up to around $4 million from the sale of up to around 1.86 million units at a price of $2.15 each.
Each unit will consist of one common share of the company and one common share purchase warrant, said the company, and added that each warrant will entitle the holder thereof to buy one common share from the company at a price of $2.37 per common share for a period of 36 months from the closing date of the offering.
The company plans to use the net proceeds to complete a new preliminary economic assessment for its Morrison project and for general corporate purposes.
The closing of the offering is subject to certain conditions, including the approval of the TSX Venture Exchange and certain other conditions.