Pampa Metals and Rugby Resources Finalize Private Placements, Advance Acquisition Plans
Vancouver, British Columbia -- March 27, 2025 -- NewsGenie -- Pampa Metals Corp. and Rugby Resources Ltd. have announced the closing of their previously detailed private placements. Pampa Metals has secured $1.962 million of the $3 million planned, issuing 12,262,500 units at $0.16 each, with warrants for additional shares. They anticipate closing the final tranche next week, resulting in 107,514,818 shares outstanding.
Rugby Resources has issued 100,000,000 units at $0.025 per unit, raising $2.5 million. Funds will be used to settle debt, cover acquisition costs by Pampa Metals, and for working capital. Both placements involved finder's fees and are subject to hold periods.
Pampa Metals and Rugby are progressing towards a definitive agreement for Pampa's acquisition of all Rugby's shares, exchanging 1 Pampa Metals share for every 6.4 Rugby shares. This would result in Pampa issuing approximately 65,097,403 shares.
Joseph van den Elsen, President & CEO of Pampa Metals, and Bryce Roxburgh, President & CEO of Rugby Resources, provided contacts for further information.