Junior Pacifico Minerals will raise A$4.6-million through a share placement to sophisticated and professional investors to fund drilling and a prefeasibility study at the Sorby Hills base metals project, in Western Australia.
The company will place 575-million new shares, at a price of 0.8c a share to raise the funds, with the issue price representing an 11.1% discount to Pacifico’s last closing price on August 28, and a 13.4% discount to its 30-day volume weighted average share price.