Thenewswire·2025-10-20 21:05Core Viewpoint - KORE Mining Ltd. is initiating a non-brokered private placement to raise up to C$4 million through the issuance of units priced at C$0.12 each, aimed at advancing its development properties and for general corporate purposes [1][2][4]. Group 1: Private Placement Details - The company plans to issue up to 33,333,333 units, each consisting of one common share and one transferable common share purchase warrant [2]. - Each warrant allows the holder to acquire an additional common share at a price of C$0.16 for a period of 36 months from issuance [2]. - The offering is expected to close in early November, subject to necessary approvals, including from the TSX Venture Exchange [3]. Group 2: Use of Proceeds - Net proceeds from the private placement will be allocated to advance permitting and exploration of wholly owned development properties in California, as well as for working capital and general corporate purposes [4]. Group 3: Regulatory and Insider Participation - All securities issued will be subject to a statutory hold period of four months and one day from the closing date [5]. - Insiders may participate in the offering, which would be considered a related party transaction, but is expected to be exempt from formal valuation and minority shareholder approval requirements [6]. Group 4: Management Changes - Mr. Jay Sujir has resigned from the Board of Directors effective October 17, 2025, but will continue to serve in an advisory capacity [9]. - The Board expresses gratitude for Mr. Sujir's contributions during his nearly four years of service [9]. Group 5: Company Overview - KORE Mining focuses on responsibly creating value from its gold assets in California, advancing the Imperial project towards development while exploring district-scale gold assets [9].