Search Minerals Closes Non-Brokered Private Placement Financings

Core Points - Search Minerals Inc. has successfully closed a non-brokered private placement financing, raising gross proceeds of $843,847 [1][7] - The funds from the FT Financing will be allocated to eligible Canadian exploration expenses related to the Foxtrot and Deep Fox projects, qualifying for the Critical Mineral Exploration Tax Credit [1][7] - The net proceeds from the Share Financing will be utilized for working capital and general corporate purposes [1] Financing Details - The financing included the issuance of 1,487,694 FT Units at a price of $0.50 per unit, generating gross proceeds of $743,847, with each unit comprising one flow-through common share and one-half of a transferable non-flow-through common share purchase warrant [7] - Additionally, 303,030 Offered Shares were issued on a non-flow-through basis at a price of $0.33 per share, resulting in gross proceeds of $100,000 [7] - The company paid a total of $16,109.76 in cash finder's fees and issued 6,000 Finder's Warrants to Canaccord Genuity Corp., representing 6% of the FT Units sold [2] Regulatory and Compliance Information - The financings are subject to final acceptance by the TSX Venture Exchange [3] - The FT Shares, Warrants, and Finder's Warrants are subject to a hold period under Canadian securities laws, expiring on March 7, 2026 [3] Company Overview - Search Minerals is focused on exploring and developing Critical Rare Earth Elements (CREE) and transition metals such as Zirconium and Hafnium in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador [4] - The company controls two deposits (Foxtrot and Deep Fox) and several drill-ready prospects along a 64-kilometer belt in Labrador [4][5]