Velox Energy Materials Inc. Confirms Terms of Proposed Non-Brokered Private Placement Financing

Core Viewpoint - Velox Energy Materials Inc. is proceeding with a non-brokered private placement financing to raise up to $3,125,369.52 through the issuance of units priced at $0.035 each, with each unit comprising one common share and one warrant [1][2]. Financing Details - The private placement will consist of up to 89,296,272 units, with each warrant allowing the purchase of an additional common share at $0.05 for 24 months [1][2]. - The net proceeds will be allocated for evaluating potential resource opportunities, project commitments, regulatory costs, and general working capital, with approximately $500,000 earmarked for strategic opportunity evaluation [3]. Finder's Fees - The company may pay finder's fees of 6% in cash and 6% in finder's warrants to eligible finders, with each finder's warrant also allowing the purchase of a common share at $0.05 for 24 months [4]. Related Party Transaction - A director of the company plans to participate in the private placement for up to 5,700,000 units, which is classified as a related party transaction under Multilateral Instrument 61-101 [5]. Regulatory Compliance - All securities issued will be subject to a hold period of four months and one day, and the completion of the private placement is contingent upon receiving necessary regulatory approvals [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 [8]. - The company also owns Kotai Energy and has an option to acquire intellectual property rights related to a Solid-State Hydrogen Storage Project [9].