EuroPacific Clarifies Use of Proceeds and Insider Participation

VANCOUVER, BC / ACCESSWIRE / June 24, 2024 / Europacific Metals Inc. (TSX-V:EUP)(OTCQB:AUCCF) (the "Company" or "EuroPacific") announced details regarding its non-brokered private placement of up to 6,250,000 units at $0.04 per unit, aiming to raise up to $250,000.

Each unit includes one common share and one transferable share purchase warrant. A warrant allows the holder to buy an additional common share at $0.05 for two years. The proceeds will fund the drill program at Miguel Vacas, Portugal. No funds will be used for non-arm's length parties or investor relations activities.

CEO Karim Rayani and director Deepak Malhotra will subscribe for 500,000 units each, qualifying as related party transactions under MI 61-101. This will not materially change the insiders' percentage of ownership. The company is exempt from formal valuation and minority shareholder approval due to the fair market value of insider participation being below 25% of the market capitalization.

Finder's fees may apply, and all securities will be under a statutory hold period in line with Canadian securities laws. The TSX Venture Exchange must approve the private placement.