MTI(US:MTX) Newsfileยท2025-05-01 20:36Core Viewpoint - Sokoman Minerals Corp. is seeking conditional approval for a CAD$400,000 non-brokered flow-through private-placement financing and has closed the first tranche, raising CAD$300,000 through the issuance of common shares [1][2]. Financing Details - The first tranche involves the issuance of 6,000,000 common shares at CAD$0.05, resulting in gross proceeds of CAD$300,000 [2]. - The company will pay cash finders' fees of CAD$18,000 and issue 360,000 non-transferable broker warrants exercisable at CAD$0.07 for one year [2]. - All securities issued are subject to a four-month and one-day hold period, with final approval dependent on the Exchange [3]. Use of Proceeds - The proceeds from the flow-through shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as defined in the Income Tax Act (Canada), by December 31, 2026 [4]. - The company intends to allocate the flow-through proceeds specifically to its exploration projects [5]. Company Overview - Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in Newfoundland and Labrador, focusing on gold projects [6]. - The company's flagship projects include the Moosehead, Crippleback Lake, and Fleur de Lys projects, targeting Dalradian-type orogenic gold mineralization [6]. - The company has formed a strategic alliance with Benton Resources Inc. for joint-venture properties in Newfoundland [6]. Recent Developments - In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc. to advance a lithium project [7]. - The East Alder Project has been optioned to Canterra Minerals Inc., and the Startrek Project has been optioned to Thunder Gold [8]. Acknowledgments - The company expresses gratitude to the Government of Newfoundland and Labrador for financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program [9].