Vancouver, British Columbia--(Newsfile Corp. - November 6, 2017) - Power Americas Minerals Corp. (TSXV: PAM) (OTC Pink: PWMRF) (FSE:VV0) ("Power Americas" or the "Company") is pleased to report it has closed its non-brokered private placement previously announced on October 30, 2017, for gross proceeds of $750,000.
The non-brokered private placement consisted of 15,000,000 Units at $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.10 per share for a two-year period from the date of issue of the warrant.
All securities issued above are subject to a hold period expiring on March 2, 2018, being four months and one day after closing of the private placement.
The Company has paid $51,555 cash in finder's fees on the private placement.
Proceeds of the private placement will be used for work on the company's mineral properties and general working capital.
The private placement is subject to TSX Venture Exchange final approval.
Power Americas Minerals Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, copper and other energy metals in North and South America. The Company's shares are listed and posted for trading on the TSX Venture Exchange under the symbol "PAM" and on the Frankfurt Exchange under the symbol "VV0".
