Salazar Resources Announces Closing of Private Placement

Core Points - Salazar Resources Limited has successfully closed a non-brokered private placement financing, issuing 7,140,000 shares at a price of $0.07 per share, raising a total of $499,800 [1] - The proceeds from the private placement will be utilized for working capital and exploration activities [1] - All securities issued are subject to a four-month hold period and require regulatory approvals, including acceptance from the TSX Venture Exchange [1] Insider Participation - Certain insiders of the company participated in the offering, purchasing a total of 1,671,000 shares [2] - This participation is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder approval requirements due to the transaction's size relative to the company's market capitalization [2] - No directors of the company expressed any disagreements regarding the insider participation [2] Company Overview - Salazar Resources Limited is focused on exploration and development in Ecuador, with a strong understanding of the local geology [4] - The company has a pipeline of copper-gold exploration projects and aims to make further commercial discoveries while managing non-core assets [5] - Salazar Resources holds a 25% stake in the Curipamba project and a 20% stake in the Pijili and Santiago projects, all fully carried through to production or construction decisions [5]