|By Marketwired .||
|January 31, 2014 06:38 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/31/14 -- Pacific Imperial Mines Inc. ("PPM" or the "Company") (TSX VENTURE: PPM.H) is pleased to announce that it intends to arrange a 12 million unit, non-brokered private placement to raise gross proceeds of up to $600,000. Each unit will consist of one common share and one share purchase warrant of the Company at a price of $0.05 per unit. One full warrant is exercisable, for a period of two years from the date of closing, into one common share of the Company at an exercise price of $0.10 per full warrant. The shares issued under this private placement will be subject to a four-month hold period. This placement is subject to acceptance by the TSX Venture Exchange. Proceeds of the financing will be used for advancing the Company's exploration program on the KEG property and for general working capital purposes. The transaction regarding the property was announced in a news release dated January 23, 2014. The closing of the financing is conditional on completing the KEG Mountain Property transaction.
On behalf of the Board of Directors
PACIFIC IMPERIAL MINES INC.
H. Leo King, President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this release. This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
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