Michael Gentile Announces an Acquisition of Securities of American Pacific Mining Corp.
![Michael Gentile Announces an Acquisition of Securities of American Pacific Mining Corp.](https://www.minenportal.de/media/goldseiten-news.jpg)
Montreal, June 9, 2021 - Michael Gentile (the "Acquiror") announces that, on June 8, 2021, pursuant to a private placement (the "Private Placement"), he acquired ownership of 8,181,964 Units of American Pacific Mining Corp. (the "Company") at a price of $0.125 per Unit, for a total purchase price of $1,022,745.50. Each Unit consists of one common share (a "Share") and one warrant (a "Warrant"), with each Warrant exercisable into one Share of the Company at an exercise price of $0.16 per Share for two years from the closing date of the Private Placement.
The Company may accelerate the expiry of the Warrants if the twenty (20) day volume-weighted average trading price of the Shares on the Exchange or such other exchange on which the Shares of the Company may be listed, is greater than $0.30 provided that (i) the Company disseminate a news release announcing the acceleration of the expiry date, and (ii) the accelerated expiry date is not less than 30 calendar days after such news release is disseminated.
Immediately prior to the Private Placement, the Acquiror held no Shares, Warrants or other securities convertible into Shares of the Company.
As a result of the Private Placement, the Acquiror now holds 8,181,964 Shares and 8,181,964 Warrants and the Acquiror's non-diluted shareholdings represent approximately 10.10% of the Company's issued and outstanding Shares. Thus, on a partially diluted basis (i.e., assuming full exercise of all Warrants and no other issuances of Shares by the Company), the Acquiror would hold a total of 16,363,928 Shares, representing approximately 18.34% of the Company's issued and outstanding Shares.
The Units were acquired by the Acquiror for investment purposes. The Acquiror may increase or decrease his ownership of securities of the Company as the circumstances or market conditions warrant.
To obtain a copy of the early warning report filed by the Acquiror, please contact the Acquiror at 514.591.4227 or refer to the Company's SEDAR profile at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86954