Abacus Announces Financing

Core Viewpoint - Abacus Mining & Exploration Corporation is initiating a non-brokered private placement to raise up to $350,000 through the issuance of units priced at $0.02 each, aimed at funding exploration and general working capital [1][2]. Group 1: Offering Details - The offering will consist of up to 17,500,000 units, each comprising one common share and one non-transferable common share purchase warrant, exercisable at $0.05 per share for three years [1][2]. - The offering is subject to TSX Venture Exchange approval and may involve cash fees or finder warrants for certain finders [5]. Group 2: Company Assets and Projects - Abacus recently acquired the Willow copper-molybdenum property and holds a lease on the adjacent Nev-Lorraine property, along with a 20% interest in the Ajax copper-gold development project in British Columbia [3][6]. - The Ajax project has faced environmental assessment challenges, with a previous decision to decline the issuance of an environmental assessment certificate, but efforts are being made to re-engage with stakeholders for a potential resubmission [6]. Group 3: Regulatory and Subscription Information - The offering is conducted under available prospectus exemptions, allowing existing shareholders to subscribe, and if subscriptions exceed $500,000, units will be allocated pro rata among qualifying subscribers [4]. - All securities issued will be subject to a four-month hold period under Canadian securities law [5].