Velox Energy Materials Inc. Announces Proposed Non-Brokered Private Placement Financing

Core Viewpoint - Velox Energy Materials Inc. is proposing a non-brokered private placement financing to raise up to $3,125,369.52 by issuing up to 89,296,272 units at a price of $0.035 per unit [1][3]. Financing Details - Each unit will consist of one common share and one common share purchase warrant, with the warrant exercisable at $0.05 for 24 months [2]. - The net proceeds will be allocated for evaluating potential resource opportunities, project commitments, regulatory costs, and general working capital [3]. Regulatory and Compliance - The private placement is subject to necessary regulatory approvals, including from the TSX Venture Exchange, and all securities will have a hold period of four months and one day [4][7]. - The company may pay finder's fees of 6% in cash and 6% in finders' warrants to eligible finders [5]. Related Party Transaction - A director of the company intends to participate in the private placement for up to 5,700,000 units, which is classified as a related party transaction [6]. Company Overview - Velox Energy Materials is focused on developing high-value assets, particularly the NQV Project in Queensland, Australia, which has significant mineral resources [9]. - The company also owns Kotai Energy and has the option to acquire intellectual property rights related to a Solid-State Hydrogen Storage Project [10].