Pacific Booker raises private placement target to $12M from $10M

Pacific Booker Minerals Inc. (TSXV: BKM) (OTC Pink: PBMLF) announced it intends to increase the size of a previously announced non-brokered private placement, raising the target gross proceeds to approximately $12.0 million from $10.0 million.

The company plans to sell up to 5,128,206 units at C$2.34 per unit. Each unit consists of one common share and one warrant, with each warrant exercisable at $2.75 per share for 36 months from the closing date. The warrants are transferable subject to company consent.

Net proceeds are intended to advance the Morrison project and for general corporate purposes.

Closing is subject to conditional approval from the TSX Venture Exchange and other customary conditions. Securities issued will carry a statutory hold period of four months and one day following closing, under Canadian securities laws. Subscribers will also be subject to a contractual lock-up of six months following closing, during which they may not sell or transfer securities without company consent, subject to customary exceptions.

Certain related parties are expected to participate in the offering on the same terms as arm's-length investors. The company stated it intends to rely on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the fair market value of related party involvement does not exceed 25% of the company's market capitalization.

No finder's fees or commissions are payable in connection with the offering. The original placement terms were announced October 5, 2026.

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