Vancouver, British Columbia--(Newsfile Corp. - June 26, 2018) - Pan Andean Minerals Ltd. (TSXV: PAD) ("PAD" or the "Company") is proposing, subject to the acceptance of the TSX Venture Exchange, to undertake a non-brokered private placement of up to 5 million units at a price of 10 cents per unit for proceeds of up to $500,000. Each unit will consist of one common share of the company and one share purchase warrant. Each warrant entitles the registered holder to acquire one additional share of the company at a price of 20 cents for a period of 2 years. In the event that the company's shares trade at a closing price of 40 cents or more for a period of 10 consecutive days at any time after the closing of the offering, the company may at its discretion, accelerate the expiry of the date of the warrants by providing notice to shareholders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.
Proceeds from this financing will be used for general working capital.
Pan Andean is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 10 years, with a focus on copper and gold exploration. The Company acquires prospective gold and copper-gold exploration properties considered to have significant mineral potential by staking, option or purchase agreements. The Company currently has a portfolio of properties in Peru and Yukon with the focus being Peru.
On behalf of the Board of Directors
Sung Bum "Spencer" Huh CEO, Director 604-355-6463 sbhuh1450@gmail.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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