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Pacific Empire Minerals Plans to Raise up to C$1.34 Million Through a Non-Brokered Private Placement

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Pacific Empire Minerals (PEMC.V) on Monday said it is raising to C$1.34 million through a non-brokered private placement of share units.

The company said it will place up to 30.11-million units priced at C$0.045 each in the financing, with each made up of a share and a three-year warrant to buy a share of C$0.07.

made up of a share and a three year warrant entitling the holder to buy a share at C$0.07, said the company.

Proceeds will be used for the company's 2026 drill campaign on its flagship Trident copper-gold-silver porphyry project in British Columbia and its Pinnacle project, as well as general working capital purposes, added the company.

"Crews are on the ground, and diamond drilling is anticipated to begin in early August," said Chief Executive Officer Brad Peters. "This follows months of data compilation and review, a newly completed airborne magnetic survey across northern Pinnacle, and an induced polarization survey at Trident that builds on work OZ Minerals completed there in 2014."

The company's shares were last seen up C$0.005 or 11.1% to C$0.05 on the TSX Venture Exchange.

Price: $0.05, Change: $+0.01, Percent Change: +11.11%

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