Happy Creek Announces $3,250,000 Private Placement

Core Viewpoint - Happy Creek Minerals Ltd is initiating a non-brokered private placement to raise up to C$3,250,000 to advance its Fox Tungsten Project and other exploration initiatives in British Columbia [1][2][3] Financing Details - The private placement consists of charity flow-through units (FT Units) priced at C$0.07 and non-flow-through units (NFT Units) priced at C$0.05 [1] - The offering includes a lead investment from Waratah Capital Advisors Ltd [2] - Each FT Unit comprises one flow-through common share and one half of a common share purchase warrant, while each NFT Unit consists of one common share and one half of a common share purchase warrant [2] Use of Proceeds - Funds raised will be allocated to drilling, exploration, and development of the Fox Tungsten Project, as well as for general working capital [3] - A 10,000 metre drill program is planned for the current exploration season to expand the project's resource base [2] Tax Implications - FT Shares will qualify as "flow-through shares" under Canadian tax law, with proceeds used for eligible resource exploration expenses [4] - The company will incur qualifying expenditures equal to the gross proceeds from the issuance of FT Shares by December 31, 2026 [4] Related-Party Transactions - Directors, management, and insiders may participate in the offering, which is considered a related-party transaction but is exempt from formal valuation and minority approval requirements [5] Finder's Fees and Closing Conditions - The company may pay finders' fees in accordance with applicable securities laws [6] - Securities issued will be subject to a hold period of four months and one day from the closing date and require necessary approvals [6] Company Overview - Happy Creek Minerals Ltd focuses on discovering and building resources in British Columbia, with projects including the high-grade Fox Tungsten deposit and others [9][10] - The company is committed to responsible mineral resource development and maintaining relationships with Indigenous communities [12]