 | |||||||||
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
February 5, 2025 – TheNewswire - Vancouver, British Columbia - Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE: PM / FSE: FIRA / OTCQX®: PMMCF) is pleased to announce a non-brokered private placement for gross proceeds of up to $3,000,000. The Company also advises of the appointments of Dr Stuart Smith as Senior Technical Advisor and Jordan Webster as Investor Relations Advisor and, of the early exercise of warrants by the President & CEO, insiders and other supportive long-term shareholders.
Private Placement
The Company is pleased to announce a non-brokered private placement (the “Placement”) of up to 18,750,000 units (“Units”) at a price of $0.16 per Unit for gross proceeds of up to $3,000,000 (“Proceeds”). Each Unit will consist of one fully paid common share and a half purchase warrant. Each whole warrant (a “Warrant”) shall entitle the holder to acquire an additional common share at a price of $0.30 for a period of 3 years after the closing of the Placement.
Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently intersected a second porphyry system ((refer 3 February 2025 News Release).
The anticipated closing date of the Placement is 28 February 2025.
In connection with the Placement, the Company may pay finder’s fees of up to 6% cash and 6% warrants. The Placement is subject to CSE acceptance.
Any securities issued in connection with the Placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable.
Key Appointments
Dr Stuart Smith – Senior Technical Advisor
Dr Smith has over 30 years of technical experience, with a strong track record of discovery within both brownfield and greenfield projects across 15 countries. Formerly Technical Director – Strategy and New Projects for Teck Resources, Chief Geologist for Oxiana-OZ Minerals-MMG group of companies, founder and Chief Geologist for G-Resources, Tigers Realm, and various EMR portfolio companies.
Jordan Webster – Investor Relations Advisor
Jordan is a geologist with over 5 years’ experience across geological mapping, brownfield and greenfield drill supervision and target generation. Since 2023 Jordan has been based in Argentina and focused on his online publications across cyclical investing, geology and mining & exploration within Argentina, as well as his role as Ronin Resources’ (RON:ASX) Country Manager – Argentina.
Early Warrant Exercise by Insiders
President & CEO Joseph van den Elsen has exercised 1,420,000 September 2026 $0.075c warrants at a cost of $106,500, increasing his holding to 4,904,000 shares or ~5.6% of the undiluted share capital. Insiders and supportive long-term shareholders have also exercised an aggregate of 3,570,000 September 2026 $0.075c warrants, raising an additional $267,750.
As a result, the company has 88,154,278 common shares on issue as at 4 February 2025.
ON BEHALF OF THE BOARD
Joseph van den Elsen | President & CEO
INVESTOR CONTACT
Joseph van den Elsen | Joseph@pampametals.com
Jordan Webster | jordan@pampametals.com
ABOUT PAMPA METALS
Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges.
In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance, and actual results may differ materially from those in forward-looking statements.
Copyright (c) 2025 TheNewswire - All rights reserved.
