PAW

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is
pleased to announce that it has today completed the final tranche of the
acquisition (the "Acquisition") of Stirling Capital Limited Cortec (Pty) Ltd.,
and indirectly acquired a 70% interest in Cortec Mining Kenya Limited, the owner
of the Mrima Hill Niobium and Rare Earth Project in Kenya. On the final closing,
the Company issued to Finebrook Investments Pty. Ltd. as trustee for the
O'Sullivan Superannuation Fund and Dunross Capital Limited (collectively the
"Vendors") an aggregate of 92,592,244 common shares of PAW at a deemed price of
Cdn$0.11 per share and issued to the Vendors convertible promissory notes in the
aggregate amount of Cdn$775,000 (the "Vendors Loan"). All securities issued to
the Vendors on the final closing are subject to a hold period expiring on
January 13, 2013. Upon the closing of the Acquisition, Mr. David Anderson and
Mr. Donald O'Sullivan, representatives of the Vendors were appointed to the
board of directors of the Company.


Vendors Loan

The notes are repayable at PAW's election at any time up to September 12, 2013
in cash. The Vendors Loan bears interest at the rate of 1% per month, compounded
monthly and the principal and the interest is convertible at any time by the
Vendors into common shares of PAW at a price of Cdn$0.11 per share. If the
Vendors do not elect to convert the Vendors Loans into common shares, then the
principal and interest becomes due in cash on September 12, 2013. 


Debt Financings

The Company has arranged a total of $3 million in debt financing concurrently
with the closing of the Acquisition by way of a non-revolving secured credit
facility (the "Facility") in the amount of $2.1 million, subject to final
Exchange approval and $900,000 of additional unsecured loans. The proceeds from
the debt financings will be used for advancing work on the Mrima Hill Niobium
and Rare Earth project in Kenya and for general working capital purposes. 


The Facility

Under the terms of the Facility, an aggregate of Cdn$2.1 million can be
drawndown by the Company in tranches at specific drawdown dates over a period of
nine months. All amounts drawndown under the Facility will bear interest at the
rate of 15% per annum which will be capitalized and is payable in cash on the
respective maturity dates. Each drawdown under the Facility plus accrued
interest will mature on the earlier of 12 months from the date of such drawdown
and the date that the Company completes the sale of assets at a deemed value of
not less than Cdn$3 million. Any amounts not drawdown on a draw down date will
bear a standby fee equal to 3% of the undrawn portion of drawdown amount is
payable to the Lender on such applicable drawdown date. The Facility will be
secured by a charge on the physical assets of Tantalum Mineracao e Prespeccao
Limitada ("TMPL"), the Company's wholly-owned Mozambique subsidiary, and by a
pledge of 100% of the shares in TMPL.


The amounts drawndown under the Facility plus accrued and capitalized interest
are convertible into units (the "Units") of the Company at the option of the
Lender, at any time prior to their respective maturity date, at the greater of
Cdn$0.11 per Unit and the closing market price of the common shares of the
Company on the TSX Venture Exchange (the "TSXV") on the date immediately
preceding the date of the drawdown.


Each Unit will consist of one common share of the Company and one share purchase
warrant. Each warrant will entitle the holder to purchase one additional common
share of the Company at a purchase price equal to the greater of Cdn$0.11 per
unit and the closing market price of the common shares of the Company on the
TSXV as of the date immediately preceding the date of issuance of such warrant,
for a period of 12 months from the date of the respective drawdown.


The Company has agreed to pay to a finder (the "Finder") at arm's length to the
Company and the Lender, a finder's fee on the date of each drawdown in cash
equal to 10% of each respective amount drawdown, and will issue to the Finder
such number of finder's options which entitle the Finder to purchase such number
of common shares of the Company as is equal to 25% of the number of common
shares that may be issued on conversion of each amount drawdown at an exercise
price equal to the greater of Cdn$0.11 per share and the market price of the
common shares of the Company on the TSXV as at the closing on the day
immediately preceding the date of the drawdown, exercisable for a period of five
years from the date of the respective drawdown. Upon the First Drawdown, the
Company will pay to the Finder Cdn$50,000 in cash and issue to the Finder an
aggregate of 1,136,363 finder's options exercisable at Cdn$0.11 per unit until
September 12, 2017.


The secured convertible note issued to the Lender under the terms of the
Facility and the finder's options issued to the Finder are subject to a hold
period in Canada expiring on January 13, 2013.


PAW's President & CEO said "The completion of the Acquistion is a watershed
moment for the Company. We would like to thank all stakeholders for their
patience whilst we have completed the transaction. We welcome Mr. O'Sullivan and
Mr. Anderson to the board of the Company and look forward to working together to
advance the Mrima Hill Project."


ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.

Darren Townsend, President & CEO

About Pacific Wildcat Resources Corp. - Pacific Wildcat is a Toronto Venture
Exchange listed Canadian mineral exploration company having the trading symbol
"PAW". It has a Tantalum mine at Muiane in northern Mozambique where it has the
largest land position of over 300 square kilometers on the Alto Ligonha
pegmatite belt, the location of numerous historic Tantalum mines.


PAW's main focus is the Mrima Hill Niobium and Rare Earth Project in Kenya. This
is an ex Anglo American and Pechiney property the subject of extensive historic
work. In July 2011 the Company completed an initial NI 43-101 compliant inferred
niobium resource estimate of 105.3 million tonnes at 0.65% Nb2O5 for a total of
1.519 billion pounds contained Nb2O5 to a depth of 30 metres from the surface In
addition, substantial rare earths mineralization has been identified and it is
the objective of the Company to complete a Rare Earth Resource RC drilling
program over the next 6 months.


For information about Pacific Wildcat Resources Corp. and its development and
exploration activities shareholders and other interested parties are invited to
visit the company's website at www.pacificwildcat.com.


Investors are cautioned that trading in the securities of Pacific Wildcat
Resources Corp. should be considered highly speculative. Cautionary note: This
press release contains forward looking statements, particularly those regarding
cash flow, capital expenditures, the completion of certain financings, work
programs, the estimation of mineral resources and the Company's plans with
respect to the exploration and development of its projects and its investment
plans. By their nature, forward looking statements involve risk and
uncertainties because they relate to events and depend on factors that will or
may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. There can be no
assurance that the Company will be able to obtain a mining licence or any of the
permits that are required in order to commence mining operations at the Mrima
Hill Project. The rare earths historical resource estimates is considered
speculative and therefore noncompliant with National Instrument 43-101 ("NI
43-101") reporting standards and should not be relied upon. The Company is not
treating the historical estimate as current mineral resources or reserves. The
Company has not undertaken any independent investigation of the historic rare
earths resource estimates. The Company believes that these historical resource
estimates provide a conceptual indication of the potential of mineral
occurrences within the project and are relevant to ongoing exploration. The
Company intends to confirm the historic resource estimates through drilling as
soon as possible.

Grafico Azioni Pacific Wildcat Resources Corp. (TSXV:PAW)
Storico
Da Apr 2024 a Mag 2024

Grafico Azioni Pacific Wildcat Resources Corp. (TSXV:PAW)
Storico
Da Mag 2023 a Mag 2024