Pacific Imperial Mines Inc Announces Its Application to Graduate to Tier 2 of the TSX Venture & Increase of Non-Brokered Priv...
March 13 2014 - 11:30AM
Marketwired
Pacific Imperial Mines Inc Announces Its Application to Graduate to
Tier 2 of the TSX Venture and Increase of Non-Brokered Private
Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 13, 2014) -
Pacific Imperial Mines Inc., a NEX listed company (the
"Company")(TSX-VENTURE:PPM.H) is pleased to announce that it has
submitted an application to the TSX Venture Exchange to complete
its reactivation and graduate to Tier 2 of the TSX Venture
Exchange.
On January 23, 2014,
the Company announced that it had signed a binding letter of Intent
to acquire up to a 60% interest in a property of merit, the Keg
Mountain Property in Utah, USA. A final Agreement is currently
being negotiated with Inland Explorations Ltd., the property owner.
Upon execution of the Agreement, an announcement disclosing the
terms of the final Agreement will be made. A NI 43-101 technical
report on the Keg Mountain Property is in preparation.
In conjunction with
the Keg Mountain Property acquisition, the Company announced on
January 31, 2014 and February 19, 2014, its intention to complete a
private placement of 12,000,000 units. The private placement has
been increased to 12,500,000 units for gross proceeds of $625,000.
Each unit consists of one common share purchase warrant of the
Company at a price of $0.05 per unit. One full warrant is
exercisable for a period of 5 years from the date of closing into
one common share of the Company at an exercise price of $0.10 per
full warrant. The closing of the private placement remains subject
to TSX Venture Exchange approval.
On behalf of the
Board of Directors PACIFIC IMPERIAL MINES INC.
H. Leo King,
President and Director
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange), accept
responsibility for the adequacy or accuracy of this release. This
news release and the information contained herein does not
constitute an offer of securities for sale in the United States and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
Pacific Imperial Mines Inc.H. Leo
KingPresident604-669-6332604-681-5910investor@pacificimperialmines.comwww.pacificimperialmines.com
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