Libra Energy Materials Announces Closing of Oversubscribed Non-Brokered Private Placement Financing

Executive Summary

• Libra Energy Materials Inc. closed a non‑brokered private placement for total gross proceeds of $1,209,273.
• The offering consisted of 2,554,552 Hard Dollar common shares at $0.17 per share and 3,100,000 CMETC flow‑through common shares at $0.25 per share.
• Proceeds from the CMETC FT Shares will fund further exploration on the Company’s Ontario and Quebec critical mineral properties, with related tax credit renunciations to be completed by 31 Dec 2025.

Key Details

• Hard Dollar Shares: 2,554,552 shares @ $0.17 each → $433,274 gross proceeds.
• CMETC FT Shares: 3,100,000 shares @ $0.25 each → $775,999 gross proceeds.
• Total Gross Proceeds: $1,209,273.
• Use of Proceeds (CMETC FT): To fund exploration programs on Ontario and Quebec critical mineral properties; expenditures will qualify as Canadian Exploration Expenses and flow‑through critical mineral mining expenditures.
• Renunciation Deadline: Effective date for renouncing tax credits no later than 31 Dec 2025.
• Insider Subscription: Insiders purchased 1,294,293 Hard Dollar Shares (related party transaction exempt from valuation/minority approval under MI 61‑101).
• Hold Period: All securities issued are subject to a hold period of four months and one day from issuance date.
• Regulatory Notes: No finders’ fees or broker warrants paid; securities not registered in the U.S. and may not be offered/sold there without registration or exemption.
• Approvals Required: Closing remains subject to customary approvals, including CSE approval.

Notable Quotes

(No executive quotes were included in the release.)