Pacific Empire Minerals Corporation (TSX-V:PEMC, OTCQB:PEMSF) told investors it has closed the first tranche of its previously announced non-brokered private placement.
The copper-gold explorer issued 9,000,000 common shares at $0.01 each, and 10,999,999 flow-through shares (FT Shares) at $0.015 each for aggregate gross proceeds of roughly $255,000.
The proceeds of the FT shares portion will be used for exploration of the company's Trident project, and the proceeds of the shares portion will be used for general corporate purposes and exploration of the company's properties.