Linear Minerals Corp Closes First Tranche of Private Placement Financing

Executive Summary

• Linear Minerals Corp. closed the first tranche of its non‑brokered private placement, raising up to $150,000 from flow‑through common shares and $150,000 from hard‑dollar units (total $300,000 of the $900,000 target).
• The issuance includes 3 million flow‑through common shares at $0.05 per share and 3 million hard‑dollar units at $0.05 per unit, each accompanied by a warrant to purchase one common share at $0.25 for one year.
• Proceeds are earmarked for general working capital and further exploration activities on the Company’s Quebec properties.

Key Details

• Tranche Size: First tranche of up to $900,000 total; this closing raised $300,000 (‑ $150k from flow‑through shares, ‑ $150k from hard‑dollar units).
• Share Issuance: 3,000,000 flow‑through common shares at $0.05 per share.
• Unit Issuance: 3,000,000 hard‑dollar units at $0.05 per unit, each unit includes one common share purchase warrant.
• Warrant Terms: Right to buy one common share at $0.25 per share; exercisable for one year from issue date.
• Finder’s Fee: 6 % cash fee of $9,000 payable on the hard‑dollar units.
• Regulatory Conditions: Closing subject to CSE and other regulatory approvals; securities subject to a statutory hold period of four months plus one day.
• Use of Proceeds: General working capital and additional exploration on Quebec properties.

Notable Quotes

“Gurminder Sangha, CEO & Director” – signatory on behalf of the Board. (No substantive quote provided in the release.)