Pampa Metals Announces Fully Subscribed $2.6m Private Placement

Pampa Metals Corp. has announced a fully subscribed non-brokered private placement of 9,600,000 units at a price of $0.27 per unit for gross proceeds of $2,592,000. Each unit consists of one common share and a half purchase warrant. Each whole warrant entitles the holder to acquire an additional common share at a price of $0.50 for three years after closing.

The proceeds will fund ongoing exploration at the Piuquenes Copper-Gold Porphyry Project. Recent drilling results include significant mineralization such as 801 meters averaging 0.40% copper and 0.51 g/t gold.

The company will pay a finder’s fee to Raymond James Ltd. The placement is expected to close on June 28, 2024, and is subject to a four-month hold period in compliance with Canadian securities laws.