New Earth Resources Closes Over Subscribed Flow-Through Private Placement

Core Viewpoint - New Earth Resources Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $1,089,950 through the issuance of flow-through units [1][2]. Group 1: Financial Details - The FT Offering involved the issuance of 2,422,112 FT Units at a price of $0.45 per unit, which includes 1,222,112 FT Units composed of one Class A common share and one FT Unit Warrant, and 1,200,000 FT Units composed of one share and one-half of one FT Unit Warrant [2]. - The total number of shares issued under the FT Offering is 2,422,112, along with 1,822,112 FT Unit Warrants [2]. - The company paid aggregate cash finder's fees of $76,796 and issued 170,657 finder's warrants, each exercisable for one share at a price of $0.45 until December 22, 2028 [5]. Group 2: Use of Proceeds - Proceeds from the FT Offering will be utilized to incur eligible Canadian exploration expenses (CEE) on the company's mineral exploration properties located in Canada [4]. Group 3: Future Offerings - The company is increasing its previously announced offering of units from 2,000,000 to 2,200,000 units at a price of $0.375 per unit, aiming for gross proceeds of up to $825,000 [6]. Group 4: Company Overview - New Earth Resources Corp. is a Canadian mineral exploration company focused on acquiring and developing advanced and early-stage exploration projects, including the Lucky Boy Uranium Property in Arizona and various claims in Canada [8][9].