EuroPacific Closes First Tranche of Private Placement

Vancouver, BC / ACCESSWIRE / August 2, 2024 / EuroPacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) has closed the first tranche of its non-brokered private placement, issuing 5,312,500 units at $0.04 per unit for gross proceeds of $212,500.

Each unit includes one common share and one transferable share purchase warrant, allowing holders to purchase an additional share at $0.05 per share for two years.

CEO Karim Rayani subscribed for 312,500 units, a related party transaction under MI 61-101. EuroPacific is exempt from formal valuation and minority shareholder approval due to the limited impact on market capitalization.

Finder's fees were paid to Raymond James Ltd. and Canaccord Genuity Corp., including $9,800 cash and 245,000 warrants, each exercisable at $0.05 per share for two years.

The private placement, extended for 30 days, will fund the drill program at Miguel Vacas, Portugal. Closing is expected by September 2, 2024.