Quri-Mayu closes $779,336 first tranche of financing

Executive Summary

• Quri‑Mayu Developments Ltd. closed the first tranche of its $2 million non‑brokered private placement, raising $779,336 in gross proceeds.
• The tranche consisted of 15,586,727 units sold at $0.05 per unit, each unit comprising one common share and half a warrant (exercise price $0.10).
• Finder’s fees were paid to Haywood Securities Inc. ($4,200 cash + 84,000 warrants) and Ventum Financial Corp. ($7,350 cash + 147,000 warrants); the company plans a second tranche in the coming weeks.

Key Details

• Units Issued: 15,586,727 units @ $0.05 each → $779,336 gross proceeds.
• Unit Composition: 1 common share + ½ warrant (exercise price $0.10, 24‑month term).
• Warrant Acceleration Clause: If TSX Venture Exchange trading price ≥ $0.20 for 10 consecutive days, company may accelerate expiry to 30 days after notice.
• Hold Period: Securities from tranche 1 subject to hold until Jan 24 2026.
• Finder’s Fees:
• Haywood Securities Inc.: $4,200 cash + 84,000 non‑transferable share purchase warrants (exercise price $0.10, expiry Sept 23 2027, hold until Jan 24 2026).
• Ventum Financial Corp.: $7,350 cash + 147,000 finder warrants (same terms as above).
• Use of Proceeds: Net proceeds earmarked for exploration and advancement of the company’s property portfolio and working capital; may be re‑allocated at management’s discretion.
• Regulatory Condition: Closing of tranche 1 pending final acceptance by the TSX Venture Exchange.
• Future Funding: Company intends to close a second tranche for the remaining portion of the $2 million offering in the coming weeks.