Pacific Copper Corp.: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

27 July 2007capital raising announcement▼ Bad

On June 1, 2007 Pacific Copper signed consulting agreements with Sweetwater Capital (24 months, $4,000 a month plus 1,000,000 restricted shares), and with Greatrek Trust and Scharfe Holdings (15 months each, 1,000,000 restricted shares each). The 3,000,000 shares were issued up front but are earned in four installments between December 2007 and September 2008, and unearned shares must be returned if an agreement ends early. This adds share dilution for existing holders.

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22 Mar 2007capital raising announcement● Neutral

Pacific Copper sold 2,000,000 shares at $0.10 each in two private placements (March 9 and March 15, 2007), raising $200,000 gross from non-U.S. investors with no placement fees. The money is earmarked for exploration on its Mazama Claims and general working capital; the first batch of shares is subject to a staged lock-up.

What it means for a shareholder

2.0m new shares at $0.100 to raise about $200,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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