Financings

Heritage Mining Announces Upsize to Non-Brokered Private Placement and Initiates U.S. Listing Process Due to Strong Demand

By The Northwire Desk — AI Analysis Mar 26, 2026 · 17:55 HML · 0.035 Heritage Mining Ltd.

HML · Price

Heritage Mining increased its previously announced non‑brokered private placement to up to ≈18.75 million Units and ≈18.75 million flow‑through shares, targeting gross proceeds of up to $1.5 million at $0.04 per security.
The company disclosed plans to pursue a listing on the OTCQX Market in Q2 2026, aiming to broaden its investor base and improve liquidity while maintaining its CSE ticker “HML”.
Proceeds will fund follow‑on exploration at Heritage’s Ontario properties (notably Melba and Drayton‑Black Lake) and be used for eligible Canadian flow‑through critical mineral expenditures; the offering includes warrants, finder fees, and a four‑month hold period.

Units Offered: up to 18,750,000 Units at $0.04 per Unit.
Each Unit = 1 common share + 1 common‑share purchase warrant.
Warrant exercise price: $0.05; expiry 60 months from closing.
Flow‑Through Shares (FT Shares): up to 18,750,000 FT Shares at $0.04 per FT Share.
Qualifying expenditures must be incurred by Dec 31 2027 and renounced by Dec 31 2026.
Gross Proceeds Target: $1,500,000 (combined Units and FT Shares).
Closing Date: Expected on or before April 18 2026; subject to customary approvals.
Use of Proceeds:
Fund follow‑on exploration at the company’s Ontario portfolio, especially the Melba and Drayton‑Black Lake projects.
Cover eligible Canadian flow‑through critical mineral mining expenditures.
Finder’s Fees & Compensation Warrants:
7 % cash fee + compensation unit warrants (7 % of gross proceeds) on FT Shares/Units, exercisable at $0.04 for 60 months.
Additional 1.0 % cash fee on Units or FT Shares issued under a President’s list.
Hold Period: Securities subject to a four‑month hold period under applicable securities laws.
OTCQX Listing Plan:
Initiated regulatory and administrative steps in Q2 2026.
New ticker symbol to be announced prior to listing; will continue trading on CSE as “HML”.

(No direct quotes were provided in the release.)

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