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Pasinex Resources Announces a Non-Brokered Private Placement
Globenewswire· 2025-07-15 15:03
Core Viewpoint - Pasinex Resources Limited is conducting a non-brokered private placement to raise approximately CDN $2,150,000 for the acquisition of the Sarikaya mine property in Türkiye, with initial investor commitments of about CDN $500,000 received to date [1][2]. Group 1: Offering Details - The private placement will offer common shares at a price of CDN $0.075 per share, with a minimum subscription amount of CDN $15,000 for accredited investors [1][3]. - The offering is expected to close on or about July 31, 2025, pending regulatory approvals and customary closing conditions [4]. - Shares issued will be subject to a statutory hold period of four months from the date of issuance in accordance with Canadian securities laws [4]. Group 2: Use of Proceeds - The net proceeds from the private placement will primarily be used to complete the purchase of the Sarikaya mine property, which has been previously announced [2]. - The acquisition of Sarikaya is seen as a strategic move to enhance the company's portfolio of high-grade zinc exploration and mining properties [6][9]. Group 3: Company Overview and Strategy - Pasinex Resources Limited focuses on high-grade zinc mining, with existing operations in Türkiye and Nevada, and aims to leverage its experience to drive growth and profitability [10]. - The company has a strong track record in mining high-grade zinc, with grades ranging from 25% to 50% in Türkiye and 14% to 24% in Nevada, demonstrating economic strength and high after-tax margins [6][10]. - The Sarikaya project is highlighted as a top priority, with secured exploration and mining permits and existing infrastructure that supports immediate mining operations [8][10].