Mercado Minerals Announces Subsequent Non-Brokered Private Placement

Executive Summary

• Mercado Minerals announced that its previously announced non‑brokered offering of up to 27,990,000 units is fully subscribed.
• The company will now conduct a subsequent non‑brokered private placement of up to 5,025,000 units at C$0.20 per unit, targeting gross proceeds of up to C$1,005,000.
• Net proceeds are earmarked for exploration of newly acquired Copalito and Zamora properties, additional acquisitions, investor relations activities, and general corporate working capital.

Key Details

• Subsequent Offering Size: Up to 5,025,000 units.
• Unit Composition: Each unit = 1 common share + ½ of a common‑share purchase warrant (full warrant exercisable for one common share).
• Warrant Terms: Exercise price C$0.35 per share; term of 36 months from issuance.
• Pricing: C$0.20 per unit, yielding gross proceeds of up to C$1,005,000.
• Use of Proceeds:
• Exploration of Copalito and Zamora properties.
• Acquisition costs for new projects.
• Investor relations programs.
• General corporate working capital.
• Holding Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period under applicable securities laws.
• Closing Conditions: Subject to receipt of all required regulatory approvals, including from the Canadian Securities Exchange.
• Regulatory Disclaimer: Offering not registered in the United States; cannot be sold there absent registration or an exemption.

Notable Quotes

(No direct quotes were included in the release.)