Pacific Comox Resources Ltd.
TSX VENTURE : PCM

Pacific Comox Resources Ltd.

December 07, 2006 14:09 ET

Pacific Comox Resources Ltd.: Financing Increased

TORONTO, ONTARIO--(CCNMatthews - Dec. 7, 2006) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the Company is increasing the proposed financing through a number of private placements from C$250,000 to C$300,000. The financing is in the form of units consisting of one flow-through share and one-half share purchase warrant. A warrant is exercisable for one common share at C$0.12 for one year from closing. Each unit is priced at C$0.10. The securities will be subject to a four month hold period from the date of closing. A finder's fee of 8% is payable where applicable.

Directors of the Company are subscribing for C$115,000 of the financing. This financing will increase the number of shares outstanding by 3,000,000 to 137,933,018.

The funds raised will be used to advance the exploration program on the Ryan Lake copper-molybdenum property near Matachewan, Ontario.

The financing is subject to regulatory approval.

Donald Empey, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information