Quri-Mayu closes final tranche of financing

Executive Summary

• Quri‑Mayu Developments Ltd. closed the second and final tranche of its non‑brokered private placement, raising an additional $418,000 and bringing total gross proceeds to $1,197,336.
• The second tranche consisted of 8.36 million units at $0.05 per unit, each unit comprising one common share and half a common share purchase warrant with specific acceleration provisions.
• Peter Rhodes was appointed as an independent member of the board of directors.

Key Details

• Second Tranche Size: $418,000 gross proceeds.
• Units Issued: 8.36 million units at $0.05 per unit.
• Unit Composition: 1 common share + ½ common share purchase warrant.
• Warrant Terms: Right to purchase one additional share at $0.10 per warrant share for 24 months; acceleration possible if TSX‑V share price ≥ $0.20 for 10 consecutive trading days, allowing expiry within 30 days after notice.
• Finder’s Fees: $10,150 paid in cash; issuance of 175,000 non‑transferable finder’s warrants (exercisable at $0.10 per share for 24 months).
• Statutory Hold Period: Securities subject to a four‑month‑plus‑one‑day hold expiring on February 25, 2026.
• Use of Proceeds: Primarily for exploration and advancement of mineral properties and general working capital; may be reallocated at management’s discretion for sound business reasons.
• Board Appointment: Peter Rhodes appointed as an independent director; Chartered Accountant with 20+ years in investment banking, corporate finance, and natural‑resource project development across multiple continents.

Notable Quotes

(No direct quotes provided in the release.)