Pacifico Minerals completes Entitlement Offer
Published 04-OCT-2018 15:35 P.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Pacifico Minerals (ASX:PMY) informed shareholders earlier this week that it’s non-renounceable Entitlement Offer has closed.
The entitlement offer, which was detailed in PMY’s prospectus on September 6 this year, allowed eligible registered shareholders to subscribe for new shares at an issue price of $0.006 each on the basis of three fully paid ordinary shares for every seven shares held.
Under the offer, eligible shareholders also received one free attaching option for every two shares subscribed for, exercisable at $0.015 each on or before November 21, 2020.
The results of the Entitlement Offer are as follows:
PMY has accepted applications from its shareholders subscribing for a total of 158,506,899 shares pursuant to their entitlements and additional shares, totaling approximately A$1 million and resulting in a shortfall of 315,663,279 shares for approximately A$1.8 million (with free-attaching options).
As previously announced by the company (August 29 announcement), the funds raised will be used to fund project acquisition costs and an exploration program aimed at expanded the existing resource base of the Sorby Hills lead-silver-zinc Project in WA.
PMY will also utilise funds raised under the securities placement completed on September 5 this year to facilitate the above activities.
The Joint Lead Managers in consultation with PMY, will offer the shortfall of securities under the Entitlement Offer to new investors unrelated to the company.
About Pacifico Minerals
PMY is a Western Australian based exploration company with interests in Australia, Mexico and Colombia.
In Australia, the company is currently focused on completing the acquisition of a 75% interest in the Sorby Hills project in WA. PMY also operates the Borroloola West Project JV in the NT, and holds exploration licenses in South Australia over prospective ground for cobalt and other battery metals.
It is important to note that PMY is itself a speculative investment, so professional financial advice should be sought if considering this stock for your portfolio.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.