Newsfileยท2025-07-02 12:30Core Viewpoint - Pacific Bay Minerals Ltd. is initiating a non-brokered private placement to raise up to $2,000,000 through the sale of 20,000,000 units at a price of $0.10 per unit [1][3] Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.15 per share for 24 months [2] - The company may pay finder's fees of 7% cash and 7% finder's warrants on completed subscriptions, subject to TSX Venture Exchange policies [3] - The offering is expected to close around July 17, 2025, pending regulatory approvals [3] Group 2: Use of Proceeds - Net proceeds will primarily fund the acquisition of the Pereira-Velho Gold Project in Brazil and early-stage exploration [4] - Remaining funds may support exploration on Canadian assets and general corporate activities [4] Group 3: Insider Participation - Certain insiders may participate in the offering, which will be treated as a related party transaction under TSX Venture Exchange Policy 5.9 [5] - The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements [5] Group 4: Management Changes - Elton Pereira has transitioned to the role of Country Manager, Brazil, aligning with the company's focus on the Pereira-Velho Gold Project [7] Group 5: Company Overview - Pacific Bay Minerals is a Canadian mineral exploration company focused on acquiring, exploring, and developing mining projects, particularly the Pereira-Velho Gold Project in Brazil [8]