South Pacific Metals Corp. announced a non-brokered private placement financing of up to 3,750,000 units at an issue price of CAD 0.40 per unit for the gross proceeds of CAD 1,500,000 on April 29, 2024. Each unit will consist of one common share and one common share purchase warrant, with each warrant exercisable into one common share at an exercise price of CAD 0.90 per share at any time up to 24 months following the closing date of the offering.

The units issued under the offering will be subject to a four-month hold period and the company will not pay a finder's fee. The offering is subject to the acceptance of the TSX-V.