David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, the “Company”) reports that the Company has arranged a non-brokered private placement of 1,400,000 common share units at $0.05 per unit with one placee for proceeds of $70,000, subject to the approval of the TSX Venture Exchange. The proceeds will be used for exploration and general working capital purposes.
On February 25, 2014, the Company announced a private placement of 2,000,000 units at $0.05 per unit. Subsequently, the Company closed $75,000 of that placement in two tranches. The balance of that placement will not be proceeding.