Pasinex Resources Limited Announces Non-Brokered Private Placement
TORONTO — Pasinex Resources Limited (CSE: PSE) is excited to share that it has initiated a non-brokered private placement of common shares at a price of CDN $0.075 per share. This endeavor aims to generate approximately CDN $2,150,000 in gross proceeds.
Investor Interest and Commitment
The company is already seeing positive momentum, with investor commitments reaching around CDN $500,000 towards the target amount. This early interest showcases confidence in Pasinex's strategic initiatives.
Utilization of Proceeds
Funds obtained from this private placement will primarily be allocated to finalize the acquisition of the Sarikaya mine property, which holds substantial potential in Türkiye. The detailed exploration into Sarikaya's prospects has revealed promising opportunities for future development, and the company is eager to proceed with this transformative step.
Offering Overview for Qualified Investors
The private placement is targeted at accredited and qualified investors, with a minimum subscription amount set at CDN $15,000. Despite being non-brokered, there may be finder’s fees disbursed in line with the standards of the Canadian Securities Exchange applicable regulations.
Timeline for Closing
The offering is tentatively scheduled to close around July 31, 2025, pending regulatory approvals. It’s important to note that shares acquired through this offering will be subject to a statutory hold period of four months.
Debt Conversion and Shareholder Confidence
Furthermore, this move follows the conversion of approximately CDN $2,157,473 of debt by main Pasinex stakeholders into equity, indicating solid trust in the company’s strategic direction. This conversion is intended to mirror the same pricing as the current offering, reinforcing shareholder confidence.
Comments from Management
Dr. Larry Seeley, Executive Chairman of Pasinex, stated, "We are methodically expanding our portfolio of high-grade zinc assets, focusing on profitable mining operations. With decades of expertise at our Pinargozu property, we are confident in the substantial returns and potential our growing assets will deliver."
Commitment to Sustainability and Local Communities
Pasinex not only emphasizes operational excellence but also adheres to strong Environmental, Social, and Governance (ESG) principles. The company's mining practices aim to minimize environmental impact while fostering solid relationships with communities and stakeholders.
About the Sarikaya Project
Sarikaya has emerged as a key focus for Pasinex, characterized by its secure permits and robust infrastructure, including roads, utilities, and strategic location advantages. The company sees great potential in conducting extensive exploration to unearth additional zinc-rich deposits.
Next Steps Following Acquisition
Upon successful acquisition of the Sarikaya project, Pasinex plans to commence immediate mining operations, targeting profitable production within the first year. Prior mining efforts have yielded zinc grades above 30%, showcasing Sarikaya’s high-grade potential.
Contact Information for Investors
Interested parties wishing to engage with the company are encouraged to make contact as soon as possible, ensuring all subscription agreements and payments are settled by the deadline of July 31, 2025, 1:00 p.m. (Toronto time). For inquiries, please reach out to Ian D. Atacan, CFO, or Larry Seeley, Executive Chairman.
About Pasinex Resources Limited
Pasinex Resources Limited is a dynamic zinc mining company based in Toronto, dedicated to the discovery and development of high-grade zinc assets. The company operates through its subsidiary, Pasinex Arama ve Madencilik Anonim Sirketi, owning a significant stake in the producing Pinargozu mine. Pasinex is also engaged in the Gunman Project in Nevada and is progressing toward the acquisition of the Sarikaya license, offering exciting growth prospects for future profitability.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to raise capital for the acquisition of the Sarikaya mine property and to fund future exploration and operational activities.
Who can participate in the offering?
The offering is available to accredited investors and qualified purchasers, with a minimum subscription of CDN $15,000.
When is the expected closing date for the offering?
The offering is anticipated to close around July 31, 2025, but is subject to regulatory approvals.
What are the projected grades of zinc at Sarikaya?
Historical mining results have shown zinc grades exceeding 30%, indicating the project's potential for high-grade deposits.
How can investors get more information?
Interested investors should contact Ian D. Atacan or Larry Seeley for more information regarding participation in the private placement.
