N🟁N

Pacific Comox Completes $200,000 Financing

  //business-finance.news-articles.net/content/200 .. 1/pacific-comox-completes-200-000-financing.html
  Published in Business and Finance on Thursday, December 31st 2009 at 12:50 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2009) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the Company has raised C$200,000 through a number of private placements. Of the financing $100,000 is in the form of units consisting of one flow-through share and one common share purchase warrant and $100,000 is in the form of units consisting of one common share and one common share purchase warrant. A warrant is exercisable for one common share at C$0.10 for two years from closing, increased from one year reported in the Nov. 27 news release. Each unit is priced at C$0.05. The securities will be subject to a four month hold period from the date of closing. No finder's fees are payable. The Company has 171,960,655 common shares outstanding.

The funds raised will be used to advance the exploration program on the Ryan Lake copper-molybdenum property near Matachewan, Ontario, the Mabel gold/silver property in Mexico and general corporate purposes.

The financing is subject to regulatory approval.

Donald Empey, President

For further information please contact Donald Empey at tel: 416 977 4653,
fax: 416 977 8335 or email at [ dempey@pacificcomox.com ] or visit Pacific 
Comox's website at [ www.pacificcomox.com ].

 Pacific Comox Resources Ltd.
 One Dundas Street West, Suite 2300, Box 13,
 Toronto, Ontario Canada M5G 1Z3

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.