Clarity Metals arranges $1.75-million financing

Executive Summary

• Clarity Metals Corp. announced a non‑brokered private placement to raise up to $1,725,000 in gross proceeds.
• The offering consists of up to 5 million NFT units at $0.075 per unit and up to 15 million FT units at $0.09 per unit, each unit including a common share and half a warrant (exercise price $0.12, three‑year term).
• Proceeds will be used for exploration of the Fecteau gold project in Quebec, marketing activities, and general working capital; FT proceeds will also fund Canadian flow‑through exploration expenses to be renounced by Dec 31 2025.

Key Details

• Units Offered
• NFT Units: Up to 5 million units @ $0.075/unit → up to $375,000 gross proceeds.

• FT Units: Up to 15 million units @ $0.09/unit → up to $1,350,000 gross proceeds.

• Unit Composition

• Each unit = 1 common share + ½ transferable share purchase warrant.

• Warrant exercise price: $0.12 per share, exercisable for three years from closing.

• FT Unit Specifics

• Each FT unit includes a “critical flow‑through” common share plus ½ warrant.

• Proceeds qualify as Canadian exploration expenses and flow‑through critical mineral mining expenditures under the Income Tax Act, to be renounced by Dec 31 2025 in an amount not less than the gross proceeds from FT units.

• Use of Proceeds

• Exploration of the Fecteau gold project (Quebec).

• Marketing and general working capital.

• Regulatory & Transaction Terms

• Closing subject to required regulatory approvals, including CSE approval.
• Finders’ fees payable per securities law and CSE policies.
• All securities subject to a statutory hold period of four months and one day post‑closing.
• Insider participation treated as a related‑party transaction under MI 61‑101 but expected to be exempt from formal valuation and minority‑shareholder approval requirements.

Notable Quotes

No executive quotes were provided in the release.