Medaro Announces Closing of Private Placement

Core Viewpoint - Medaro Mining Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $976,100.18, which will be utilized for exploration activities and general corporate purposes [1][3]. Group 1: Private Placement Details - The private placement consisted of two parts: 2,387,000 non-flow-through units (NFT Units) priced at $0.30 per unit and 684,211 flow-through units (FT Units) priced at $0.38 per unit [9]. - The company paid a total of $68,327.01 in cash finder's fees and issued 167,090 non-transferable non-flow-through finder's warrants at an exercise price of $0.45, and 47,894 flow-through finder's warrants at an exercise price of $0.55, both valid for 36 months [1][9]. - The common share purchase warrants for both NFT and FT Units are now exercisable for a period of 36 months from the date of issuance, an extension from the previously announced 24 months [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be directed towards advancing exploration activities at the Sweden Property and Clay Howells West Property in Ontario, as well as covering general corporate and administrative expenses [3]. - The gross proceeds from the sale of FT Units will specifically be allocated to incur "Canadian exploration expenses" as defined by the Income Tax Act (Canada) [3]. Group 3: Regulatory and Compliance Information - All securities issued in connection with the private placement are subject to a statutory four-month hold period in accordance with applicable securities laws [4]. - The securities have not been registered under the U.S. Securities Act and cannot be offered or sold in the United States without proper registration or exemption [5].