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EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) has closed the first tranche of its non-brokered private placement, raising $212,500 by issuing 5,312,500 units at $0.04 per unit. Each unit includes one common share and one warrant, exercisable at $0.05 for two years. CEO Karim Rayani participated, subscribing for 312,500 units. The company paid $9,800 in finder’s fees and issued 245,000 finder’s warrants. The private placement has been extended for 30 days, with an expected closing date of September 2, 2024. Proceeds will fund the company’s drill program at Miguel Vacas, Portugal.
EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) ha chiuso il primo tranche del suo collocamento privato non brokerato, raccogliendo $212,500 emettendo 5,312,500 unità a $0.04 per unità. Ogni unità comprende un’azione comune e un warrant, esercitabile a $0.05 per due anni. Il CEO Karim Rayani ha partecipato, sottoscrivendo 312,500 unità. La società ha pagato $9,800 in commissioni di intermediazione e ha emesso 245,000 warrants per i mediatori. Il collocamento privato è stato esteso di 30 giorni, con una data di chiusura prevista per il 2 settembre 2024. I proventi finanzieranno il programma di perforazione a Miguel Vacas, Portogallo.
EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) ha cerrado la primera tranche de su colocación privada no sindicada, recaudando $212,500 al emitir 5,312,500 unidades a $0.04 por unidad. Cada unidad incluye una acción común y un warrant, que se puede ejercer a $0.05 durante dos años. El CEO Karim Rayani participó, suscribiendo 312,500 unidades. La compañía pagó $9,800 en comisiones de intermediación y emitió 245,000 warrants para intermediarios. La colocación privada ha sido extendida por 30 días, con una fecha de cierre prevista para el 2 de septiembre de 2024. Los ingresos financiarán el programa de perforación en Miguel Vacas, Portugal.
EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF)는 비중개 민간 배치의 첫 트랜치를 마감하여 $212,500을 모금했으며, 5,312,500 유닛을 유닛당 $0.04에 발행했습니다. 각 유닛에는 하나의 보통주와 두 년 동안 $0.05에 행사 가능한 하나의 위텟이 포함됩니다. CEO Karim Rayani는 312,500 유닛을 구독하며 참여했습니다. 회사는 $9,800의 중개 수수료를 지불했으며, 245,000개의 중개인 위텟을 발행했습니다. 이 민간 배치는 30일 연장되었으며, 예상 마감일은 2024년 9월 2일입니다. 수익금은 포르투갈 미구엘 바카스에서의 드릴 프로그램을 지원하는 데 사용될 것입니다.
EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) a clôturé la première tranche de son placement privé non intermédié, levant $212,500 en émettant 5,312,500 unités à $0.04 l’unité. Chaque unité comprend une action ordinaire et un bon de souscription, exerçable à $0.05 pendant deux ans. Le PDG Karim Rayani a participé, souscrivant à 312,500 unités. La société a payé $9,800 de frais de placement et a émis 245,000 bons de souscription pour les intermédiaires. Le placement privé a été prolongé de 30 jours, avec une date de clôture prévue pour le 2 septembre 2024. Les recettes financeront le programme de forage à Miguel Vacas, au Portugal.
EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) hat die erste Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und $212,500 durch die Ausgabe von 5,312,500 Einheiten zu je $0.04 pro Einheit gesammelt. Jede Einheit besteht aus einer Stammaktie und einem Warrant, der für zwei Jahre zu $0.05 ausgeübt werden kann. CEO Karim Rayani nahm teil und zeichnete 312,500 Einheiten. Das Unternehmen zahlte $9,800 an Vermittlungsgebühren und gab 245,000 Vermittlungswarrants aus. Die Privatplatzierung wurde um 30 Tage verlängert, mit einem erwarteten Abschlussdatum am 2. September 2024. Die Einnahmen werden das Bohrprogramm in Miguel Vacas, Portugal finanzieren.
Positive
- Raised $212,500 in the first tranche of private placement
- CEO participation in the private placement, showing insider confidence
- Extension of private placement period, potentially allowing for more capital raising
- Proceeds to be used for advancing drill program at Miguel Vacas, Portugal
Negative
- Dilution of existing shareholders due to new share issuance
- Low unit price of $0.04 may indicate weak market perception
- Payment of finder’s fees reduces net proceeds from the placement
VANCOUVER, BC / ACCESSWIRE / August 2, 2024 / Europacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) (the ” Company ” or ” EuroPacific “) announces that it has closed a first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Private Placement”) by issuing 5,312,500 units (the “Units”) at $0.04 per Unit for gross proceeds $212,500.
Each Unit consists of one common share of the Company (a “Share”) and one transferrable share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire an additional Share (a “Warrant Share”) at an exercise price of $0.05 per Warrant Share for a period of two (2) years.
Karim Rayani, CEO and director has subscribed in the First Tranche for 312,500 Units, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Mr. Rayani as a result of his participation in the First Tranche. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Mr. Rayani in the First Tranche in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101.
In connection with the First Tranche, the Company has paid finder’s fees to Raymond James Ltd. and Canaccord Genuity Corp. consisting of a total of $9,800 cash and 245,000 Warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder thereof to acquire a Warrant Share at an exercise price of $0.05 per Warrant Share for a period of two (2) years.
The Company further announces that it is extending the Private Placement for 30 days. The Company now expects to close the Private Placement on or before September 2, 2024.
The proceeds from the Private Placement will be used for further advancement of the Company’s drill program at Miguel Vacas, Portugal. None of the proceeds from the Private Placement will be used for payments to non-arm’s length parties or persons conducting investor relations activities.
All securities issued pursuant to the Private Placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws. The Private Placement is subject to final acceptance of the TSX Venture Exchange.
About Europacific Metals Inc.
EuroPacific Metals Inc. is a Canadian public company listed on TSXV and in US on OTCQB. The Company holds brownfield gold, and copper-gold projects located in Portugal. The Company is focused on exploration in highly prospective geological settings in Europe jurisdictions. EuroPacific Metals (“EUP”) owns a total of 100% equity interest in EVX Portugal, a private Portugal based company, that holds the legal exploration rights from the Portugal Government on the Borba 2 (“Borba 2”) exploration properties, covering approximately 328 square kilometers in the Alentejo region in Southern Portugal. Miguel Vacas is the most advanced prospect within the Borba 2 license.
On behalf of the Board of Directors
Europacific Metals Inc.
Mr. Karim Rayani, Chief Executive Officer
11th Floor – 1111 Melville Street
Vancouver, BC V6E 3V6
E: k@r7.capital
www.europacific.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
SOURCE: Europacific Metals Inc.
View the original press release on accesswire.com
FAQ
How much did EuroPacific Metals (AUCCF) raise in the first tranche of its private placement?
EuroPacific Metals raised $212,500 in the first tranche of its private placement by issuing 5,312,500 units at $0.04 per unit.
What are the terms of the warrants issued in EuroPacific Metals’ (AUCCF) private placement?
Each warrant entitles the holder to acquire an additional share at an exercise price of $0.05 per share for a period of two years.
When is the extended closing date for EuroPacific Metals’ (AUCCF) private placement?
The extended closing date for EuroPacific Metals’ private placement is expected to be on or before September 2, 2024.
How will EuroPacific Metals (AUCCF) use the proceeds from the private placement?
The proceeds from the private placement will be used for further advancement of the company’s drill program at Miguel Vacas, Portugal.
