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Final Tranche Closed

Pacific Bay has closed a $35,750 final tranche of a previously announced financing through issuance of 286,000 units at a price of at a price of $0.125 per unit (the “Units”). The Units consist of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year.

Non Flow-Through Financing Extended

Company has received TSX Venture Exchange approval to extend the closing date of the remaining 1,210,000 non flow-through units (the “NFT Units”) at a price of $0.125 per NFT Unit, to February 5th, 2021. Each NFT Unit consists of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year.

Private Placement Extended

the Company has received TSX Venture Exchange approval to extend the closing of the remaining $171,500 of a $537,500 non-brokered flow-through and non flow-through private placement announced on November 4, 2020 (the “Financing”) to January 21, 2021. A $366,000 first tranche of the Financing was closed on December 8, 2020.

AGM Update

…shareholder’s passed all resolutions put before the Company’s Annual General Meeting held November 27th, 2020, in Vancouver, including the election of new director Antonio Vespa, the Company’s current VP of Operations.

Updated Private Placement

The announced 1,500,000 non flow through units at $0.15 per unit will now be priced at $0.125 per unit, consisting of one common share and one warrant to purchase one additional common share at a price of $0.175 for a period of one year.

Trading Reinstatement

The Company has now filed its Annual Audited Financial Statements for the year ended December 31, 2019 and its Interim Financial Statements for the Period ended March 31, 2020.

Corporate Update

Due to complications arising from the Covid19 pandemic, the Company was unable to file its Annual Financial Statements as required by June 15th, 2020. As a result, the British Columbia Securities Commission issued a Cease Trade Order on June 19th, 2020 (the “CTO”) and the Company’s shares are temporarily suspended from trading.

Update on Annual Filings

Canadian Securities Administrators (“CSA”) issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filingsé