/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES/
VANCOUVER, June 25 /CNW/ - Pebble Creek Mining Ltd. (the "Company") is
pleased to announce that it has arranged a non-brokered private placement (the
"Private Placement") of up to 3,150,000 Units at $0.35 per Unit for gross
proceeds of up to $1,102,500. Each Unit is comprised of (a) one common share
of the Company; (b) one-half of one Series A common share purchase warrant (an
"A Warrant"); and (c) one-half of one Series B common share purchase warrant
(a "B Warrant") (the A Warrants and B Warrants are together referred to as the
Each whole A Warrant is exercisable for one common share of the Company
for a period of two years at a price of $0.65. If the closing trading price of
the Company's common shares is $1.00 per share or higher for any 20
consecutive trading days during the term of the A Warrants, the Company may
elect to provide notice of acceleration of the exercise term to holders of the
A Warrants and the A Warrants will then expire thirty days after such notice
Each whole B Warrant is exercisable for one common share of the Company
for a period of two years at a price of $1.00.
Closing of a first tranche of the Private Placement was completed on
June 22, 2007, consisting of 2,571,000 Units for aggregate gross proceeds of
$899,850. The common shares and Warrants comprising the Units and the common
shares issuable pursuant to the exercise of the Warrants are subject to a hold
period of four months and one day commencing on June 22, 2007.
The Company may pay to certain finders a fee ("Finder's Fees") comprised
of (i) cash of up to 8% of the gross proceeds of the Private Placement; or
(ii) Units ("Finder's Units") equal to up to 8% of the number of Units sold
under the Offering, or (iii) a combination of cash and Finder's Units, which
in the aggregate shall not exceed 8% of the gross proceeds of the Private
Placement and the total number of Units sold under the Private Placement. The
Finder's Fees payable in cash or Units in connection with the closing of the
first tranche will be confirmed at a subsequent date.
The Private Placement is subject to final approval of the TSX-Venture
The net proceeds from the Private Placement will be used for exploration
and development of the Company's projects, for acquisitions and for working
Pebble Creek Mining Ltd. is a leader in India. Its Askot property is a
massive sulphide copper and zinc deposit that was previously drilled and
tunnelled by government agencies. Current work is aimed at establishing a
NI 43-101 compliant mineral resource. The Company also holds two other
properties and fourteen applications.
Not for dissemination or distribution in the United States.
The securities issued by the Company have not and will not be registered
under the United States Securities Act of 1933, as amended (the "1933 Act"),
or the securities laws of any state of the United States, and may not be
offered or sold in the United States absent registration or an applicable
exemption therefrom under the 1933 Act and the securities laws of all
Andrew E. Nevin, President and Chief Executive Officer
On Behalf of the Board of Directors of Pebble Creek Mining Ltd.
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.
For further information:
For further information: Gyan Singhai, Executive Chairman, Telephone:
(604) 696-6101, Fax: (604) 696-6196