American Pacific Mining Announces Corporate Update
VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the “Company”) announces that it intends to extend the expiration date of 1,554,168 warrants (the “Warrants”) originally issued by the Company on July 29, 2019 pursuant to a non-brokered private placement by 60 calendar days.
The Warrants are exercisable into common shares of the Company at a price of $0.60 per common share and currently have an expiry date of July 29, 2020, subject to an acceleration provision that provides that the Company may abridge the exercise period of the Warrants in the event (the “Trigger Event”) that the closing price of the common shares is greater than $0.75 for five or more consecutive trading days provided that (a) the Company gives notice of the Trigger Event by way of a news release, and (b) the earlier expiry date is a date which is not less than 30 calendar days after the date of such press release. The Company wishes to extend the expiry date of the Warrants to 4:00PM PST on September 27, 2020. All other terms and conditions of the Warrants, including the exercise price, remain the same.The Company announces that it has granted incentive stock options (the “Options”) to purchase a total of 2,500,000 common shares at an exercise price of $0.49 per common share for a period of five years to certain directors, officers and consultants in accordance with the provisions of its stock option plan.The Company also announces that it has engaged Kristina Pillon of High Tide Consulting Corp. in an investor relations capacity for an initial term of 6 months and has agreed to remunerate Ms. Pillon a monthly fee of CAD$5,000 and to grant Ms. Pillon 250,000 Options.About High Tide Consulting Corp.High Tide offers a suite of investor relations and corporate communications services for a variety of public companies. Ms. Pillon has over a decade of experience in capital markets having worked closely with numerous resource companies in an investor relations role as well as on the sell-side as institutional equity sales for a boutique Toronto-based mining-focused exempt market dealer.About American Pacific Mining Corp.American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. The Madison Mine in Montana under option to joint venture with Kennecott Exploration Company is our flagship asset. The Gooseberry Gold/Silver Project and the Tuscarora Gold Project are two high-grade, precious metal projects located in key mining districts of Nevada USA. The Company’s mission is to grow by the drill bit and by acquisition.On Behalf of the Board of American Pacific Mining Corp.“Warwick Smith”
CEO & DirectorCorporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina.email@example.comThe CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.