Medaro Mining Announces Closing of First Tranche of Private Placement

Executive Summary

• Medaro Mining Corp. closed the first tranche of its non‑brokered private placement, issuing 2,262,500 common shares at $0.08 per share for gross proceeds of $181,000.
• $38,000 of the proceeds were immediately used to settle a debt owed to Treewalk Ventures Inc., a related‑party consulting firm controlled by CFO Alexander McAulay; net cash available after this payment is $143,000.
• The net proceeds are earmarked for potential acquisitions and general working capital.

Key Details

• Offering Size: 2,262,500 common shares issued.
• Price per Share: $0.08.
• Gross Proceeds: $181,000.
• Debt Settlement: $38,000 paid to Treewalk Ventures Inc. (related‑party transaction).
• Net Cash Available: $143,000 for acquisitions and working capital.
• Hold Period: Securities subject to a statutory hold period of four months + one day under Canadian securities law.
• Finder’s Fees: None paid.
• U.S. Offering Restrictions: Shares not registered in the United States; cannot be offered or sold to U.S. persons absent exemption.
• Related‑Party Participation: Treewalk acquired 475,000 shares in the placement; the transaction falls below the 25 % market‑cap threshold for MI 61‑101 valuation and minority‑approval exemptions.
• Regulatory Filings: No material change report filed >21 days before closing because participation details were confirmed shortly before closing.

Notable Quotes

• “The net proceeds will be used for potential acquisitions and general working capital purposes,” – Mark Ireton, CEO & Director.