Business & Finance
Business and Finance
Business and Finance
Wed, June 16, 2010 Pacific Comox Raises $250,000 for Mabel Test Leaching
TORONTO, ONTARIO--(Marketwire - June 16, 2010) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) reports the Company is raising C$250,000 in a non-brokered financing through a number of private placements. The proposed financing is in the form of units priced at $0.05/unit consisting of one common share and one common share purchase warrant. A warrant is exercisable for one common share at C$0.10 for five years from closing. The securities will be subject to a four month hold period from the date of closing. No finder's fees are applicable. A director is subscribing for $100,000 of the financing. The Company has 176,260,655 common shares outstanding before this issue of 5,000,000 shares.
The funds raised will be used to advance the gold/silver test production program and production permitting at the Mabel project in northern Sonora State, Mexico, and general corporate purposes.
The financing is subject to regulatory approval.
Donald Empey, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
