American Pacific Announces Extension of Expiry Date of Warrants

Rhea-AI Summary

American Pacific Mining (OTCQX: USGDF) has announced a one-year extension for 3,888,849 common share purchase warrants originally issued on August 12, 2021. The warrants' expiration date will be extended from August 12, 2025, to August 12, 2026, while maintaining the exercise price of $0.34 per share.

The extension includes warrants held by a 10% company insider, qualifying as a related party transaction under MI 61-101. The company is utilizing exemptions from formal valuation and minority shareholder approval requirements, as the transaction value is below 25% of the company's market capitalization.

Positive

• Warrant holders gain additional time to exercise their rights
• Company maintains potential future funding source through warrant exercises

Negative

• Delayed potential cash inflow from warrant exercises
• Extension benefits include a 10% insider, requiring special transaction considerations

News Market Reaction – USGDF

-1.87%

1 alert

-1.87% News Effect

On the day this news was published, USGDF declined 1.87%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) (the "Company") announces that it is extending by one year the expiration date of 3,888,849 common share purchase warrants (the "Warrants") originally issued to the holders on August 12, 2021 pursuant to a private placement.

The Warrants are exercisable into common shares (the "Shares") of the Company at a price of $0.34 per Share and currently have an expiry date of August 12, 2025. The Company is extending the expiry date of the Warrants to 4:00 PM PST on August 12, 2026. All other terms and conditions of the Warrants, including the exercise price, remain the same.

Certain Warrants that are being extended are held by a 10% insider of the Company. Therefore, the extension of the expiry date of the Warrants is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves an interested party, does not exceed 25% of the Company's market capitalization.

About American Pacific Mining Corp.

American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets: 100%-owned Palmer Project, a Volcanic Massive Sulphide-Sulphate (VMS) project in Alaska, and the 100%-owned Madison Project, a past-producing copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Also, in American Pacific's asset portfolio are three high-grade, precious metals projects located in key mining districts of Nevada, USA: the Ziggurat Gold project, the Gooseberry Silver-Gold project; and the Tuscarora Gold-Silver project. The Company's mission is to grow by the drill bit and by acquisition.

On behalf of the American Pacific Mining Corp Board of Directors:

Warwick Smith, CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street
Vancouver, BC, V6C 3A8 Canada

Investor relations contact:

Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca

Media relations contact:

Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257600

FAQ

What is the new expiration date for USGDF's warrants?

The warrants will now expire on August 12, 2026 at 4:00 PM PST, extended one year from the original August 12, 2025 expiration date.

How many warrants are affected by USGDF's extension?

3,888,849 common share purchase warrants are affected by the extension.

What is the exercise price for American Pacific Mining's extended warrants?

The warrants maintain their original exercise price of $0.34 per share.

Why did American Pacific Mining need MI 61-101 exemptions for the warrant extension?

The exemptions were needed because the extension includes warrants held by a 10% insider, making it a related party transaction. The company qualified for exemptions as the transaction value is below 25% of market capitalization.