Pacific Imperial Mines Completes Debt Settlement with Insiders, Increasing CEO's Stake
Vancouver, British Columbia — September 11, 2026 — Leads & Copy — Pacific Imperial Mines Inc. (TSX.V: PPM) has completed debt settlements totaling $149,306.59 with two company insiders, Chris McLeod, CEO and director, and Peter Holbek, director. The settlements were finalized through the issuance of a combined 9,953,772 common shares of the Company to the creditors at a deemed price of $0.015 per share. These newly issued shares are subject to a hold period that extends until January 12, 2027, in compliance with securities regulations and TSX Venture Exchange policies. This action follows up on the Company’s press release dated August 26, 2026.
Chris McLeod has reported his acquisition of 8,022,041 common shares, valued at $120,330.61, which settled loans made to the Company. This transaction has triggered the requirement for Mr. McLeod to file an early warning report due to his ownership stake exceeding 10 percent of the Company’s outstanding common shares.
Before this debt settlement, Mr. McLeod held beneficial ownership, control, or direction over 8,250,000 common shares and 1,500,000 stock options. This represented approximately 9.97 percent of the Company’s issued and outstanding common shares on a non-diluted basis, and approximately 11.57 percent on a partially-diluted basis, assuming the exercise of his stock options.
Following the completion of the debt settlement, Mr. McLeod’s holdings have increased. He now beneficially owns, or exercises control or direction over, 16,272,041 common shares and 1,500,000 stock options. This constitutes approximately 17.55 percent of the issued and outstanding common shares on a non-diluted basis, and approximately 18.86 percent on a partially-diluted basis, assuming his stock options are exercised.
Mr. McLeod has stated he has no current plans to dispose of or acquire additional securities of the Company. However, he reserves the right to acquire or dispose of securities in the future, depending on market conditions, the Company’s performance, and other relevant factors. An early warning report detailing these changes in security holdings will be filed and made available on SEDAR+ under Pacific Imperial Mines Inc.’s profile.
Pacific Imperial Mines is a mineral exploration company headquartered in Vancouver, Canada. The Company is involved in the acquisition, exploration, evaluation, and development of mineral properties. Its current areas of focus include the Brownell property in Saskatchewan and the Babine and Fenton properties located in British Columbia.
Source: Pacific Imperial Mines Inc.
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