Pacific Booker Minerals Completes C$12 Million Financing to Advance Morrison Copper-Gold Mine

en.Wedoany.com Reported - On November 9, Canadian mining company Pacific Booker Minerals completed an upsized non-brokered private placement, issuing 5,128,206 securities units at C$2.34 per unit for gross proceeds of C$12 million. The net proceeds from the financing are intended to advance the Morrison copper-gold project located in central British Columbia, Canada, and for general corporate purposes. The private placement has closed and remains subject to final approval by the TSX Venture Exchange.

The financing was structured as a combination of common shares and warrants, with each securities unit comprising one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of C$2.75 per share for a period of 36 months following the closing of the financing. The warrants are transferable, subject to the consent of the company.

Investor John Robins participated in the financing and, upon completion of the transaction, became an insider of the company on a fully diluted basis. Certain related parties also subscribed on the same terms as non-related investors. The company relied on the exemption under Canadian Multilateral Instrument 61-101 for transactions not exceeding 25% of the company's market capitalization, and was therefore exempt from the formal valuation and minority shareholder approval requirements.

The securities issued are subject to a statutory hold period under Canadian securities laws of four months and one day from the closing date. Subscribers also agreed to an additional six-month contractual lock-up, during which the subscribed securities may not be sold or transferred without the consent of the company. No finder's fees, underwriting commissions or other related fees were payable in connection with the financing.

The Morrison copper-gold mine is located approximately 35 kilometers north of Granisle, British Columbia, and is wholly owned by Pacific Booker Minerals. In August 2026, the company engaged Tetra Tech of Canada to conduct a NI 43-101-compliant preliminary feasibility study for the project, covering an updated mineral resource estimate, engineering design, cost parameters, economic assumptions and applicable regulatory requirements. The study is part of technical work previously initiated, and this financing provides additional funds to continue advancing mine development.