Salazar Resources Announces Initial Closing of Private Placement

Company Overview - Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in Ecuador [4] - The company has a wholly owned pipeline of copper-gold exploration projects across Ecuador and aims to make another commercial discovery while farm-out non-core assets [5] - Salazar Resources has a 25% stake in its maiden discovery, Curipamba, and a 20% stake in two copper-gold porphyry projects, Pijili and Santiago, with plans to acquire the remainder from Silvercorp [5] Private Placement Financing - The company has raised gross proceeds of $1,066,940 by issuing 15,242,000 common shares at a price of $0.07 per share [1] - An additional 9,758,000 shares for $683,060 are expected to be fully subscribed in the near future [1] - Certain insiders, including Nick DeMare, participated in the financing, which is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder approval requirements [2] Use of Proceeds - Proceeds from the private placement will be used for working capital, tenure payments on recently acquired properties, and exploration activities [1]