Electrum Discovery Closes Over Subscribed Private Placement

Core Viewpoint - Electrum Discovery Corp. has successfully closed an over-subscribed private placement, raising total gross proceeds of $1,608,077, which will be utilized to advance its gold and copper projects in Serbia [1][2]. Financing Details - The private placement involved the issuance of 22,972,527 units at a price of $0.07 per unit, with each unit comprising one common share and one common share purchase warrant [2]. - Each warrant allows the holder to purchase an additional common share at an exercise price of $0.15 for a period of two years [2]. - Finder's fees amounted to $12,246 in cash and 365,004 finder's warrants [3]. Use of Proceeds - Proceeds from the private placement will be directed towards infill and expansion drilling at the Novo Tlamino project and accelerating drill targeting at the Timok East project, along with general working capital and corporate purposes [5]. Company Overview - Electrum Discovery Corp. is a Canadian growth-oriented company focused on increasing shareholder value through its projects: gold-silver Novo Tlamino and copper-gold Timok East, located in the Western Tethyan Belt in Serbia [6]. - The company aims to maximize the value of its mineral projects while promoting sustainability and governance in the region [7].