Pacific Bay Announces Repricing and Reduction of Flow-Through & Non Flow-Through Non-Brokered Financing

Vancouver, British Columbia--(Newsfile Corp. - November 4, 2020) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") reports that the Company has repriced, subject to the acceptance of the TSX Venture Exchange, it's non-brokered private placement announced September 24, 2020 with planned gross proceeds of $625,000. The announced 1,500,000 non flow-through units at $0.15 per unit will now be priced at $0.125 per unit, consisting of one common share and one warrant to purchase one additional common share at a price of $0.175 for a period of one year. The previously announced 2,000,000 flow-through units at $0.20 per unit will now be priced at $0.175 per unit consisting of one flow-through share and one warrant to purchase one non flow-through share at a price of $0.225. Gross proceeds will now be $187,500 non flow-through and $350,000 flow-through funds, totalling $537,500 in aggregate. The Company plans to pay finders fees on all or part of the financing.

Pacific Bay Minerals Ltd.Per/

David H. Brett, MBAPresident & CEOContact: David Brett, 604-682-2421, dbrett@pacificbayminerals.com^[1]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67448^[2]