In a significant development, American Pacific Mining Corp (CSE: USGD; OTCQX: USGDF; FSE: 1QC1) has revealed plans to issue shares as part of its obligations towards three former employees. This decision, which is aligned with the terms outlined in their respective Employment Agreements, will see the company distribute a total of 1,281,722 common shares at a price of $0.175 per share. This issuance is scheduled to occur contingent upon obtaining the necessary regulatory approvals.
The total value of the employment-related liabilities being settled is approximately $224,301.35, highlighting the company’s commitment to fulfilling its financial responsibilities towards its former staff members. The share issuance is seen as a strategic move to manage liabilities while reinforcing shareholder value.
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Details of the share issuance
The share distribution is poised to close as American Pacific awaits the green light from the relevant regulatory bodies. It’s important to note that these shares will not be registered under the U.S. Securities Act of 1933, and therefore cannot be sold within the U.S. or to U.S. persons without specific exemptions. This precaution is standard in the industry to comply with legal requirements and protect the company’s interests.
As a reminder, this announcement serves not as a solicitation for purchase or sale of these securities, but rather as a formal notice regarding the company’s actions to settle its debts to former employees.
About American Pacific Mining Corp
American Pacific Mining Corp is an emerging player in the exploration and development of precious and base metals, with a primary focus on opportunities within the Western United States. The cornerstone of their portfolio is the renowned Madison Copper-Gold Project located in Montana, which is entirely owned by the company. This project has garnered attention in the industry, as it was nominated for the ‘Deal of the Year’ at the S&P Global Platts Metals Awards for consecutive years.
Future prospects
In addition to the Madison project, American Pacific has secured a strategic partnership through a transaction with Vizsla Copper that has provided them with a substantial equity stake and potential milestone earnings of $15 million related to the advanced exploration of the Palmer Copper-Zinc VMS Project in Alaska. This positions American Pacific as a company with considerable upside potential in the mining sector.
Project portfolio
The company’s ambitions extend beyond just the Madison project; they boast a variety of high-grade precious metals projects situated in key mining regions across Nevada. American Pacific is actively pursuing partnerships, spin-outs, and direct exploration initiatives, all aimed at enhancing shareholder value through discovery and development.
Incorporated under the laws of British Columbia, American Pacific maintains its headquarters in Vancouver, BC, a strategic location for its operations. The company is poised to continue its growth trajectory by leveraging its existing assets and exploring new opportunities within the resource sector.
Contact information
For inquiries related to investor relations, Kristina Pillon from High Tide Consulting Corp can be reached at 604.908.1695 or via email at [email protected]. For media inquiries, Adam Bello from Primoris Group Inc. is the contact point at 416.489.0092 or [email protected].
For further details, stakeholders can access comprehensive information regarding the Madison Project in the company’s NI 43-101 Technical Report available on their official website.
