BWR Exploration Inc. Closes Tranche 2 of the Bridge Financing Pursuant to a Business Combination Transaction with Electro Metals and Mining Inc.

Core Viewpoint - BWR Exploration Inc. and Electro Metals and Mining Inc. have successfully raised a total of $240,000 in bridge financing, exceeding the minimum requirement for their proposed business combination [1][2]. Group 1: Financing Details - BWR and Electro aimed to raise between $220,000 and $300,000 through unit financing to support immediate commitments and advance their business combination [2]. - BWR raised an additional $50,000 in its second tranche of bridge financing, issuing 2,500,000 units at a price of $0.02 per unit, with each unit consisting of one common share and one warrant [3]. - The first tranche of BWR's financing closed on February 14, 2025, raising $40,000 through the issuance of 2,000,000 units, bringing the total raised by BWR to $90,000 [4]. Group 2: Insider Participation - Certain directors and insiders of BWR participated in the bridge financing, subscribing for 1,250,000 units at a total price of $25,000, which is within the permissible limits under applicable securities laws [5]. Group 3: Electro Financing - Electro has raised an aggregate of $150,000, surpassing its minimum target of $120,000, by issuing 937,500 units at $0.16 each, with each unit comprising one ordinary share and one warrant [6]. Group 4: Transaction Structure - The proposed business combination between BWR and Electro is structured as a reverse takeover (RTO), which will result in Electro and its subsidiaries becoming wholly-owned subsidiaries of BWR [7]. - The final structure of the business combination is subject to satisfactory legal advice and is considered an arm's length transaction [7]. Group 5: Future Steps - Further details regarding the transaction and a definitive agreement will be disclosed in due course, with trading of BWR shares currently halted pending the completion of the transaction [8][9].