Raises $500,000 Through Sophisticated Investors
Sydney, Oct 5, 2015 AEST (ABN Newswire) - Pacifico Minerals Limited (ASX:PMY) is pleased to announce it has received commitments from institutional and sophisticated investors to subscribe for 50 million common shares, at 0.1c per share, to raise $500,000 ("the placement") before costs. The Placement is being undertaken within the Company's available capacity under the ASX Listing Rules. Settlement is scheduled to occur on or before 13th October 2015, with placement, allotment and quotation on the ASX anticipated within one (1) business day of settlement
Funds raised will be used to accelerate exploration at the highly prospective Borroloola West Project in NT, Australia where drilling is set to commence shortly at the very exciting Coppermine Creek copper prospect.
About Pacifico Minerals Ltd
Pacifico Minerals Ltd (ASX:PMY) is a Western Australian based exploration company focussed on advancing the Berrio Gold Project located in Colombia. Berrio is situated in the southern part of the prolific Segovia Gold Belt and is characterised by a number of operational, artisanal-scale adits, tunnels, and declines. The project is 35km from the Magdalena River which is navigable to the Caribbean Sea and has excellent infrastructure in place including hydro power, sealed roads, water supply and telecommunications coverage. Pacifico also has an interest in two other projects in Colombia (Natagaima and Urrao) and one project in the NT, Australia (Borroloola West Project).