On June 15th Pacific Metals Inc. was cleared from the SEC review of its Form 10 filing and is now a fully reporting company under the 1934 Securities and Exchange Act.
On July 20th the board of Pacific Metals Inc. agreed to a dividend of the outstanding shares of the Company on a one for one basis. The new issued and outstanding shares of Pacific Metals Inc. are 20 million shares all of which are owned by Pacific Gold Corp. Pacific Gold is planning a dividend of a portion of Pacific Metals outstanding common shares to shareholders of Pacific Gold Corp. in the fall of 2012