Company Announces Flow-Through and Non-Flow-Through Financing

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FINANCING,MINING,EXPLORATION

A publicly listed company in the mining sector announces a private placement financing comprising flow-through and non-flow-through units. The flow-through component will be used to fund exploration expenses at its copper projects, while the non-flow-through component will be used for general corporate purposes. The offering is expected to close in tranches, with the first tranche anticipated by late December.

”) at a price of $0.04 per FT Unit. Each FT Unit is comprised of one flow-through common share at an exercise price of $0.07 for a term of 24 months after the closing. The non-flow-through component of the Offering at a price of $0.035 per NFT Unit. Each NFT Unit is comprised of one Share and one-half non-flow-through warrant, with each full warrant exercisable for one common share at an exercise price of $0.07 for a term of 24 months after the closing.

The Offering is scheduled to close in tranches, with the first tranche expected to close by late December and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange. The Offering is being made by way of private placement in Canada and such other jurisdictions as the Company may determine.

The Company may pay finder's fees and warrants on the Offering of up to 7% of the aggregate gross proceeds raised. The finder's fees shall be paid in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.The Offering will be made available to existing shareholders of the Company who, as of the close of business on December 26, 2024, held common shares of the Company , pursuant to the prospectus exemption set out in B.C.

The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

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