South Pacific Metals Corp. announced a non-brokered private placement of up to 8,333,334 units of the company at a price of CAD 0.48 per unit for the gross proceeds of CAD 4,000,000.32 on December 11, 2024. Each Unit will consist of one common share of the company and one-half of one share purchase warrant, whereby each whole Share purchase warrant will be exercisable at CAD 0.90 into an additional Share for a period of 24 months from the date of issuance.
All securities to be issued in connection with the Offering will be subject to a four-month hold period in accordance with applicable securities legislation. The offering is subject to regulatory approval, including acceptance by the TSX Venture.
