Search Minerals Announces Amended Terms for Non-Brokered Private Placement Financings

Core Viewpoint - Search Minerals Inc. has amended the terms of its non-brokered private placement financings, aiming for gross proceeds of up to $993,847, with an increased share price from $0.25 to $0.33 per share [1][2]. Financing Details - The financing consists of two components: a charity flow-through unit private placement (FT Financing) and a hard-dollar private placement (Share Financing) [9]. - The FT Financing aims to raise up to $743,847 through the issuance of up to 1,487,694 FT Units at $0.50 each, while the Share Financing targets $250,000 by offering up to 757,576 common shares at $0.33 each [9]. - The gross proceeds from the FT Financing will be allocated to eligible Canadian exploration expenses related to the Foxtrot and Deep Fox projects, which may qualify for the Critical Mineral Exploration Tax Credit [2]. Regulatory Approvals - The financings are subject to necessary regulatory approvals, including acceptance from the TSX Venture Exchange, with no assurance that they will be completed [3]. Securities Issuance - The FT Shares and Warrants will be subject to a hold period of four months and one day from the closing date, in accordance with applicable securities laws [4]. Company Overview - Search Minerals focuses on exploring and developing Critical Rare Earth Elements (CREE) and transition metals like Zirconium and Hafnium in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador [6]. - The company controls two deposits (Foxtrot and Deep Fox) and several drill-ready prospects along a 64-kilometer belt in Labrador [6][7].