Pacific Empire Minerals Corp. Closes Private Placement
Vancouver, April 24, 2018 - Pacific Empire Minerals Corp. (TSXV: PEMC) ("PEMC" or the "Company"), a hybrid prospect generator focused in British Columbia, announces that it has completed a non-brokered private placement (the "Private Placement") of 1,000,000 units of the Company (the "Units") at a price of $0.20 per Unit with each Unit comprised of one common share and one transferable common share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") at an exercise price of $0.30 per share for a period of 36 months until April 24, 2021. Proceeds from the financing will be used to fund exploration of the Company's portfolio of exploration projects and general working capital. In consideration for arranging the private placement, the Company paid finder's fees of $12,000 paid in cash and through the issuance of 60,000 finder's warrants. Each finder's warrant entitles the holder to purchase one common share in the capital of the Company at an exercise price of $0.30 per share until April 24, 2021.
The shares, Warrants, finder's warrants and any shares issued upon exercise of the Warrants and finder's warrants are subject to a hold period and may not be traded until August 25, 2018 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and were not permitted to be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.
Additional information on the Company and its projects can be found on SEDAR at (www.sedar.com), and on the Company's website at www.pemcorp.ca. You may also email info@pemcorp.ca or call Investor Relations at (604) 356-6246.
About Pacific Empire Minerals Corp.
PEMC is an exploration company based in Vancouver, British Columbia, that employs a "hybrid prospect generator" business model and trades on the TSX Venture Exchange under the symbol PEMC. The Company's strong portfolio of projects is a result of continuous generative work conducted since the Company's inception in 2012.
By integrating the project generator business model with low-cost RC drilling, the company intends to leverage its portfolio by identifying, and focusing on, the highest quality projects for partnerships and advancement.
ON BEHALF OF THE BOARD
"Brad Peters"
President and Chief Executive Officer
Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
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.
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; and the expected use of proceeds and business objectives, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management's discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including the assumptions general business and economic conditions will not change in a materially adverse manner. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.