Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) (the "Company") announces that it is extending by one year the expiration date of 3,888,849 common share purchase warrants (the "Warrants") originally issued to the holders on August 12, 2021 pursuant to a private placement.
The Warrants are exercisable into common shares (the "Shares") of the Company at a price of $0.34 per Share and currently have an expiry date of August 12, 2025. The Company is extending the expiry date of the Warrants to 4:00 PM PST on August 12, 2026. All other terms and conditions of the Warrants, including the exercise price, remain the same.
Certain Warrants that are being extended are held by a 10% insider of the Company. Therefore, the extension of the expiry date of the Warrants is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves an interested party, does not exceed 25% of the Company's market capitalization.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets: 100%-owned Palmer Project, a Volcanic Massive Sulphide-Sulphate (VMS) project in Alaska, and the 100%-owned Madison Project, a past-producing copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Also, in American Pacific's asset portfolio are three high-grade, precious metals projects located in key mining districts of Nevada, USA: the Ziggurat Gold project, the Gooseberry Silver-Gold project; and the Tuscarora Gold-Silver project. The Company's mission is to grow by the drill bit and by acquisition.
On behalf of the American Pacific Mining Corp Board of Directors:
Warwick Smith, CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street
Vancouver, BC, V6C 3A8 Canada
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca
Media relations contact:
Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257600
