Canadian Exploration Expenses
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Muzhu Mining Announces Closing Of Oversubscribed Second Tranche Of Financing
Thenewswire· 2025-12-24 00:09
Core Viewpoint - Muzhu Mining Ltd. has successfully closed the second tranche of its non-brokered offering, raising a total of $250,000, contributing to an aggregate of $500,000 raised from both tranches of the offering [1][2]. Group 1: Offering Details - The offering aims to raise up to $1,000,000, consisting of two components: up to $500,000 in units at $0.06 per unit and up to $500,000 in flow-through units at $0.08 per unit [2]. - Each unit consists of one common share and one warrant, while each flow-through unit includes one common share qualifying as "flow-through shares" and one warrant [2]. - The warrants allow holders to purchase one common share at an exercise price of $0.10 for up to 24 months following the closing of the offering [3]. Group 2: Use of Proceeds - Net proceeds from the sale of units will fund the initial option payment for the Everett titanium property, working capital, and general corporate purposes [4]. - Gross proceeds from the sale of flow-through units will be allocated for surface exploration, metallurgical testing, and verification of historical exploration work at the Everett Property [4]. - The entire gross proceeds from the flow-through units will be used for Canadian Exploration Expenses, which must be incurred by December 31, 2026, and renounced by December 31, 2025 [5]. Group 3: Future Plans - A final tranche of the offering is expected to close in January 2026, subject to regulatory approvals [6]. - The company paid $10,000 in finder's fees and issued 125,000 finder's warrants in connection with the second tranche [7].
PTX Metals Inc. Announces Third Closing of Private Placement
Newsfile· 2025-10-07 11:58
Core Viewpoint - PTX Metals Inc. has successfully closed the third tranche of its non-brokered private placement, raising a total of $1,737,284.82, contributing to an overall total of $6,236,214.82 raised to date [1][2]. Group 1: Financial Details - The third tranche included the issuance of 9,666,667 charity flow-through units at $0.15 each, generating gross proceeds of $1,450,001.55 [1]. - Additionally, 2,073,333 hard dollar units were issued for gross proceeds of $207,333.30, and 592,222 flow-through units were sold at $0.135 each, raising $79,949.97 [1]. - The company paid $48,193.97 in finders fees and issued 701,022 finder warrants, allowing holders to purchase common shares at $0.14 for two years [2]. Group 2: Use of Proceeds - Proceeds from the hard dollar units will be allocated for general corporate expenses and working capital [5]. - Gross proceeds from the charity flow-through units will be used for eligible Canadian exploration expenses related to the company's projects in Ontario, with expenditures to be incurred by December 31, 2026 [6]. Group 3: Regulatory Compliance - The HD Units and CFT Units were issued under the Listed Issuer Financing Exemption, which allows the underlying securities to be free from hold periods under Canadian securities laws [3]. - The flow-through units are subject to a hold period of four months and one day following issuance [3]. Group 4: Company Overview - PTX Metals Inc. is focused on high-quality strategic metals assets in northern Ontario, including copper, gold, nickel, and PGEs [8]. - The company aims to advance its flagship projects, the W2 Cu-Ni-PGE and the Shining Tree Gold Project, located in mineral-rich regions [9].