American Pacific Plans $3M Private Placement

American Pacific Mining Corp (TSE:USGD) has released an update.

American Pacific Mining Corp has announced a $3 million non-brokered private placement, offering 15 million units at $0.20 each to fund their exploration and development projects, including the Palmer and Madison Projects. The placement will include common shares and half-share warrants, with the latter exercisable at $0.30 for two years. The offering will not be subject to a hold period under Canadian securities laws and does not require registration under the U.S. Securities Act, facilitating a faster closing process.

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