September 20, 2016 13:58 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 20, 2016) - PACIFIC IMPERIAL MINES INC. (the "Company") (TSX VENTURE:PPM) announces that it has closed its non-brokered private placement announced on July 18, 2016 and August 3, 2016.
A total of 10,947,000 common shares were issued at a price of $0.025 per common share for aggregate gross proceeds of $273,675.
In addition, an aggregate of $2,542 was paid and 180,000 common shares were issued to finders who were instrumental in introducing placees to the Company.
All securities issued pursuant to the private placement are subject to a four month hold period and may not be traded until January 20, 2017.
Proceeds of the private placement will be used to maintain and preserve the Company's existing operations, activities and assets and for working capital purposes.
ON BEHALF OF THE BOARD
H. Leo King, President
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.
Pacific Imperial Mines Inc.Roman ShklankaChairman604-649-6195Pacific Imperial Mines Inc.H. Leo KingPresident604firstname.lastname@example.org
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