Closes Private Placement
PACIFIC IMPERIAL MINES INC.
1700-700 West Pender Street, Vancouver, BC, V6C 1G8 Canada Telephone: (604) 669.6332; Facsimile: (604) 681.5910 www.pacificimperialmines.com
PACIFIC IMPERIAL MINES INC.
CLOSES PRIVATE PLACEMENT
Vancouver, March 28, 2018 ‐ PACIFIC IMPERIAL MINES INC. (the “Company”) (TSX‐Venture‐PPM) announces that further to the Company’s news release dated March 14, 2018 wherein the Company increased the negotiated non‐brokered private placement for up to 11,000,000 units (the “Units”) at a price of CAD$0.05 per Unit for gross proceeds of up to CAD$550,000 the Company is pleased to announce the private placement has closed for the aggregate gross proceeds of $550,000.
Agents for the transaction included Canaccord Genuity Corp. and Leede, Jones Gable (collectively, the “Agents”). In consideration for the services of the Agents in connection with the private placement the Company paid the Agents a cash commission of $28,800 and 576,000 finders warrants.
Each Unit consists of one common share in the capital of the Company and one whole transferable share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one common share at a price of CAD$0.075 per share at any time prior to March 26, 2020. In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing price of greater than CAD$0.15 per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release and in such case the Warrants will expire on the 30th day after the date of dissemination of the news release.
All securities issued pursuant to the private placement are subject to a four‐month hold period and may not be traded until July 27, 2018.
Proceeds of the private placement will be used to maintain and preserve the Company’s existing operations, activities, and assets, and for general working capital purposes.
ON BEHALF OF THE BOARD
“Chris McLeod” (signed)
Chris McLeod, CEO
For further information please contact:
Roman Shklanka, Chairman, at 604‐649‐6195 or Chris McLeod, President, 604‐669‐6332 E‐mail: [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this News Release.