EuroPacific Metals (TSX-V:EUP), on Friday, announced the close of the first tranche of its non-brokered private placement – with the company issuing 5.3 million units at $0.04 per unit, generating gross proceeds of $212,500.
Each unit comprises one common share and one transferrable share purchase warrant. Each warrant allows the holder to acquire an additional share at $0.05 for a period of two years.
Proceeds from this private placement will be directed towards advancing the company's drill program at Miguel Vacas, Portugal.