Casa Minerals Announces Closing of First Tranche of Private Placement

Core Viewpoint - Casa Minerals Inc. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of up to $250,000 through the issuance of flow-through units at a price of$0.055 each [1][2]. Group 1: Private Placement Details - The first tranche consists of 4,545,455 flow-through units, each unit comprising one common share and one-half common share purchase warrant [2]. - Each full warrant is exercisable at a price of $0.075 until March 17, 2027 [2]. - The net proceeds from the offering will be allocated for exploration and development activities on the company's projects in British Columbia, Canada [2]. Group 2: Regulatory and Compliance Information - All flow-through shares and warrants are subject to a hold period of four months and one day, restricting resale or transfer in accordance with applicable securities laws [3]. - The completion of the private placement is contingent upon approval from the TSX Venture Exchange [3]. Group 3: Insider Participation - The tranche includes a subscription from Mr. Farshad Shirvani, President & CEO of Casa, who subscribed for the entire 4,545,455 flow-through units [4]. - This transaction is classified as a related party transaction and is relying on exemptions from formal valuation and minority shareholder approval requirements [4]. Group 4: Company Overview - Casa Minerals Inc. is engaged in the acquisition, exploration, and development of mineral properties in Canada and the USA [6]. - The company holds a 90% interest in the Congress gold mine located in Arizona, USA, and a 100% interest in the polymetallic Pitman property in British Columbia [6]. - Additionally, Casa has an option to acquire a 75% interest in the Arsenault VMS Property, also in British Columbia [6].