Pacific Booker Upsizes Private Placement to C$12M at C$2.34/Unit
PBMLF has more than doubled off its 52-week low of $0.281.
Summary
Pacific Booker Minerals increased its non-brokered private placement to C$12M from C$10M, issuing up to 5.13M units at C$2.34 each. Each unit includes a warrant exercisable at C$2.75 for 36 months. Proceeds fund the Morrison copper-gold-molybdenum project and general corporate purposes. The upsizing follows the original C$10M proposal announced October 6 and a prior $4M placement at $2.15 in July. The company reported a going concern warning in August, so this financing is critical for continued operations. No finder's fees are payable, and shares carry a four-month hold plus a six-month lock-up.
At the time of this announcement, PBMLF was trading at $1.98 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $38.8M. The 52-week trading range was $0.28 to $2.51. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.