South Pacific Metals Corp. Announces Private Placement Financing
Summary
The proceeds of the Offering will be used as follows: (i) approximately US$500,000 (approximately C$685,000) to carry out exploration work on its properties located in Papua New Guinea, and (ii) the balance on general administrative and working capital purposes.The Offering is subject to the acceptance of the TSX-V.SPMC is an Asia-Pacific focused copper and gold exploration company with four highly prospective projects: KRL South, KRL North, Kili Teke and the May River Project. Kili Teke is an advanced exploration project only 15 km from the world-class Porgera Gold Mine and hosts an existing Inferred mineral resource with multiple opportunities for expansion and further discovery. SPMC has a highly experienced leadership team with experience working together in the region and with established in-country partners.Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of SPMC. In making the forward-looking statements, SPMC has applied certain assumptions that are based on information available, including SPMCs strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.