Purecore Metals Inc. press release
Pacifica Resources Announces $1.5 Million Non-brokered Financing for Howard's Pass
CSE - Canadian National Stock Exchange ยท Canada
Trading Symbol: PAX.TSX-V
VANCOUVER, Oct. 6 /CNW/ - Pacifica Resources Ltd. (PAX.TSX-V) is pleased to announce a non-brokered $1.5 million financing. The financing consists of $750,000 in flow-through shares priced at $0.20 per share and $750,000 in units. Each unit is priced at $0.20 per unit and comprises one share and one- half share purchase warrant. Each full warrant, upon exercise, entitles the holder to purchase a share at $0.26 per share for 24 months from closing. A fee will be paid with respect to this financing. Proceeds of the financing will be added to the approximately $1.4 million in current working capital and provide for compilation of the 2005 exploration results and completion of an initial metallurgical testwork program at Howard's Pass. The 2005 summer exploration program focused on expanding the open-pittable resources in the Anniv and XY deposits, identifying other areas of surface mineable mineralization and testing the favourable strata for extensions of the "Active Member" that hosts zinc-lead mineralization over a strike length exceeding 30 kilometres (see May 2 and May 6, 2005 news releases).
Pacifica is a junior resource company focused on exploration for base metals in the Americas. Its core focus is the exploration of its properties in the Howard's Pass District, Yukon that hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production of zinc and lead, at a time when World zinc mine supply is in deficit and there are few new mines under development.
This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. All dollars in this release are in Canadian funds.
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