EuroPacific Metals (TSX-V:EUP) has closed the second and final tranche of its previously announced non-brokered private placement for proceeds of $110,500 by issuing 2,762,500 units at $0.04 each.
CEO Karim Rayani and director Deepak Malhotra subscribed in the second tranche for an aggregate of 1,062,500 units.
In total, EuroPacific Metals (TSX-V:EUP) issued an aggregate of 8,075,000 units at $0.04 each for proceeds of $323,000.
Each unit comprised of a share and a share purchase warrant entitling the holder to acquire an additional share at $0.05 for two years.
The proceeds of the offering will be used to further advance the company’s drill program at its Miguel Vacas project in Portugal.