Medaro Mining Announces Closing of First Tranche of Private Placement

Core Points - Medaro Mining Corp. has successfully closed the first tranche of its non-brokered private placement, issuing 2,262,500 common shares at a price of $0.08 per share, resulting in gross proceeds of $181,000 [1] - The company has allocated $38,000 of the proceeds to settle a debt with Treewalk Ventures Inc., a consulting firm controlled by the CFO, leaving net proceeds of $143,000 for potential acquisitions and working capital [2] - The securities issued are subject to a four-month hold period under Canadian securities laws, and no finder's fees were paid [3] Related Party Transaction - Treewalk Ventures, controlled by the CFO, participated in the offering by acquiring 475,000 shares, and the company applied $38,000 of the proceeds to settle a debt with Treewalk [5] - The company is relying on exemptions from formal valuation and minority approval requirements as the transaction does not exceed 25% of the company's market capitalization [5] Company Overview - Medaro Mining Corp. is a lithium exploration company based in Vancouver, BC, owning the James Bay Pontax Project and the CYR South lithium properties in Quebec [6]