Metalero Closes Oversubscribed Private Placement

Executive Summary

• Metalero Mining Corp. closed a non‑brokered private placement of 3,333,331 common shares at $0.15 per share, generating gross proceeds of $499,999.65.
• The net proceeds will be used to fund ongoing exploration and development activities on the Company’s mineral properties and for general working capital.
• A related‑party transaction involved an insider purchasing 334,000 units; the offering relied on MI 61‑101 exemptions and did not create a new control person.

Key Details

• Shares Issued: 3,333,331 common shares at $0.15 per share.
• Gross Proceeds: $499,999.65.
• Finder’s Warrants: 79,999 non‑transferable warrants issued to eligible finders; each warrant allows purchase of one common share at $0.15 for up to two years from issuance.
• Cash Paid to Finders: $12,000 in cash.
• Hold Period: All securities subject to a hold period until July 18, 2026.
• Use of Proceeds: Funding ongoing exploration and development on Metalero’s mineral properties; general working capital.
• Insider Participation: One insider subscribed for 334,000 units (related‑party transaction). Exemptions under sections 5.5(a) and 5.7(1)(a) of MI 61‑101 were relied upon because the fair market value did not exceed 25% of market capitalization.
• Control Impact: The offering did not result in the creation of a new control person.

Notable Quotes

“The net proceeds from the Offering are intended to fund ongoing exploration and development activities on the Issuer's mineral properties and for general working capital purposes.” – Rob L'Heureux, CEO & President

All boilerplate, forward‑looking statements, and disclaimer text have been omitted for clarity.