Fidelity Minerals Announces Closing of First Tranche of Non-Brokered Private Placement Financing

Core Points - Fidelity Minerals Corp. has successfully closed the first tranche of a non-brokered private placement, raising gross proceeds of CAD $1,350,000 by issuing 13,500,000 units at CAD $0.10 per unit [1][2] - Each unit consists of one common share and one-half transferable common share purchase warrant, with full warrants exercisable at $0.20 per share until October 7, 2027 [1][2] - A strategic investor has purchased 3,500,000 units in the first tranche and is expected to acquire the remaining 1,500,000 units in the second tranche pending TSX-V approval [2] Financial Details - The company paid cash finder's fees of $33,775 and issued 337,750 finder's warrants, each exercisable at $0.20 until October 7, 2027 [2] - Of the total units issued, 3,325,000 units were subscribed by Lions Bay Capital Inc., a control person of the company, which constitutes a related party transaction [4] Use of Proceeds - The net proceeds from the financing will be used to advance exploration and community relation programs in Peru, as well as for corporate working capital purposes [5] Regulatory Information - The securities issued are subject to a four-month hold period expiring on February 8, 2026 [3] - The securities have not been registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without compliance with registration requirements [6] Company Overview - Fidelity Minerals Corp. focuses on high-quality mining assets, particularly in copper and gold, with a goal to delineate major deposits that could attract mid-tier and major mining companies [8] - The company is advancing its most significant project, Las Huaquillas, located in Northern Peru, and is looking to expand its project portfolio through strategic acquisitions [8]