Prospector Closes $38 Million Financing

Core Points - Prospector Metals Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $38,047,564 through the issuance of 39,054,190 common shares [1][2] - The offering included 5,500,000 flow-through common shares priced at $1.00 each and 33,554,190 non-flow-through common shares priced at $0.97 each [1][3] - The proceeds from the flow-through shares will be used for eligible resource exploration expenses, while the non-flow-through shares will fund exploration programs and general working capital [4] Financial Position - Following the offering, the company has $40,920,000 in available working capital and a total of 149,137,219 common shares outstanding, along with 21,102,930 share purchase warrants and 7,299,206 stock options [2] Use of Proceeds - The funds from the flow-through shares will specifically support the exploration program at the ML project in the Yukon [4] - The proceeds from the non-flow-through shares will also contribute to the exploration program at the ML project and provide general working capital [4] Related Party Transactions - A director of the company participated in the private placement, acquiring 1,500,000 flow-through shares for $1,500,000, which is classified as a related party transaction [6] Major Investor Participation - B2Gold Corp. has entered into a subscription agreement to acquire 17,758,678 common shares at a price of C$0.97 per share, contributing approximately $17,225,917.66 to the company [7] - Post-offering, B2Gold will hold 29,678,306 common shares, representing 19.9% of the total issued and outstanding shares of Prospector [7] Company Overview - Prospector Metals Corp. focuses on early-stage exploration of gold and base metal prospects, primarily in the Yukon and Ontario, Canada [9] - The company aims to create shareholder value through new discoveries and maintains relationships with local and Indigenous rightsholders [9]