VANCOUVER, BC / ACCESSWIRE / September 26, 2024 / South Pacific Metals Corp. (TSXV:SPMC)(FSE:6J00)(OTCQB:SPMEF) ("SPMC" or the "Company"), an emerging gold-copper exploration company operating across Papua New Guinea's proven production corridors, is pleased to announce that its common shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC"). The Company also announces that it has entered into marketing and advertising agreements with Think Ink Marketing Data and Email Services Inc. and 45 Degrees Inc.
DTC Eligibility
South Pacific reports that its common shares are now DTC eligible, a significant milestone that is expected to simplify the process of trading and enhance liquidity of South Pacific's common shares in the United States. The Company's shares recently began trading on the OTCQB® Venture Market ("OTCQB") under the ticker symbol "SPMEF".
This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling a security to be traded over a much wider selection of brokerage firms.
"Receiving our DTC eligibility is a beneficial next step for U.S. shareholders and brokerage firms, as it creates an enhanced trading environment with faster execution and improved liquidity," said Michael Murphy, Executive Chair. "South Pacific's gold-copper exploration activities are ramping up, and we anticipate having an active and productive Q4."
Marketing and Advertising Agreements
Think Ink Marketing Data and Email Services Inc. ("Think Ink"), of Santa Ana, California, has been engaged by the Company for a six-month marketing and public relations program ("The Agreement"), including facilitating the creation and distribution of marketing materials and paid advertisements. The Agreement commences on September 26, 2024, for a total fee of USD $120,000 to be paid in three installments: USD $40,000 on signing, USD $40,000 sixty days post-signing, and $40,000 one-hundred-twenty days post-signing. Either Party may terminate this Agreement with thirty (30) days' written notice (the "Notice Period"). Consideration to Think Ink does not include any securities of the Company and Think Ink does not hold any interest (directly or indirectly) in the Company. Think Ink is at arm's-length to the Company and has no relationship with the Company outside of this engagement.
45 Degrees Inc. ("45 Degrees") of Cheyenne, WY, has been engaged by the Company for a six-month term to provide advertising services including Google Ads, social media and video interview distribution ("The Advertising Agreement"). The Agreement was entered into on September 26, 2024, in consideration of a total fee of USD $105,000 to be paid in three installments: USD $35,000 on signing, USD $35,000 sixty days post-signing, and $35,000 one-hundred-twenty days post-signing. The Agreement may be extended on a month-to-month basis for a fee of USD $17,500 by way of mutual written agreement between both Parties. Either Party may terminate this Agreement with thirty (30) days written notice (the "Notice Period"). Consideration to 45 Degrees does not include any securities of the Company and 45 Degrees does not hold any interest (directly or indirectly) in the Company. 45 Degrees is at arm's-length to the Company and has no relationship with the Company outside of this engagement.
About South Pacific Metals Corp.
South Pacific Metals Corp ("SPMC") is an emerging gold-copper exploration company operating in the heart of Papua New Guinea's proven gold and copper production corridors. With an expansive 3,000 km² land package and four transformative gold-copper projects contiguous with major producers K92 Mining, PanAust and neighbouring Barrick/Zijin, new leadership and experienced in-country teams are prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to prioritize discovery across its portfolio projects: Anga, Osena, Kili Teke and May River.
Immediately flanking K92's active drilling and gold producing operations to the northeast and southwest, SPMC's Anga and Osena Projects are located within the high-grade Kainantu Gold District - each having the potential to host similar-style lode-gold and porphyry copper-gold mineralization as that present within K92's tenements. Kili Teke is an advanced exploration project situated only 40 km from the world-class Porgera Gold Mine and hosts an existing Inferred Mineral Resource with multiple opportunities for expansion and further discovery. The May River Project is located adjacent to the world-renowned Frieda River copper-gold project, with historical drilling indicating potential for a significant, untapped-gold mineralized system. SPMC common shares are listed on the TSX Venture Exchange (TSX.V: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE: 6J00).
For further information please contact:
Michael Murphy, Executive Chair or Investor Relations South Pacific Metals Corp. Tel: +1-604-653-9464 Email: info@southpacificmetals.ca
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer and Forward-Looking Information
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of SPMC. In making the forward-looking statements, SPMC has applied certain assumptions that are based on information available to the Company, including SPMC's strategic plan for the near and mid-term. There is no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements may involve various risks and uncertainty affecting the business of the Company. These forward-looking statements can generally be identified as such because of the context of the statements, including such words as "believes", "anticipates", "expects", "plans", "may", "estimates", or words of a similar nature. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic, regulatory or other unforeseen uncertainties and contingencies. These assumptions include, without limitation: success of the Company's projects, prices for metals remaining as estimated, currency exchange rates remaining as estimated, availability of funds for the Company's projects, capital, decommissioning and reclamation estimates, prices for energy inputs, labour, materials, supplies and services (including transportation), no labour-related disruptions, no unplanned delays or interruptions in scheduled construction and production, all necessary permits, licenses and regulatory approvals are received in a timely manner, and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Accordingly, readers should not place undue reliance on forward-looking information. Such factors include, without limitation: fluctuations in gold prices, fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation), fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar), operational risks and hazards inherent with the business of mineral exploration, inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner, changes in laws, regulations and government practices, including environmental, export and import laws and regulations, legal restrictions relating to mineral exploration, increased competition in the mining industry for equipment and qualified personnel, the availability of additional capital, title matters and the additional risks identified in the Company's filings with Canadian securities regulators on SEDAR+ (available at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
