Mink Ventures Closes $731,518 in First Tranche of Non-Brokered Private Placement

Executive Summary

• Mink Ventures closed the first tranche of its non‑brokered private placement, raising $731,518 in gross proceeds.
• The offering consisted of 4,810,000 HD Units at $0.10 each and 1,927,061 FT Units at $0.13 each; related‑party directors/officers purchased 560,000 units.
• Net proceeds are earmarked for exploration on the Montcalm nickel‑copper‑cobalt project, the Warren copper‑nickel project, and general working capital.

Key Details

• Gross Proceeds: $731,518 from the first tranche.
• Units Issued:
• HD Units: 4,810,000 units @ $0.10 per unit (hard‑dollar). Each includes one common share + one HD warrant (exercise $0.20, 36‑month term).
• FT Units: 1,927,061 units @ $0.13 per unit (flow‑through). Each includes one common share + one FT warrant (exercise $0.20, 36‑month term).
• Related‑Party Purchases: Directors and officers bought a total of 560,000 units (300,000 HD Units + 260,000 FT Units), qualifying as a related‑party transaction exempt from MI 61‑101 valuation/approval thresholds.
• Finder’s Fees & Warrants: Paid cash finder’s fees of $39,962.15 and issued 380,508 non‑transferable Finder’s Warrants (exercise $0.20, 36‑month term).
• Holding Period: All securities subject to a statutory four‑month plus one‑day hold period expiring February 17 2026.
• Regulatory Condition: Closing pending final approval from the TSX Venture Exchange.
• Use of Proceeds:
• Exploration and advancement of the Montcalm nickel‑copper‑cobalt project and the Warren copper‑nickel project.
• General working capital (specifically for proceeds from HD Units).
• Outstanding Shares Post‑Closing: 32,415,949 common shares outstanding after this tranche.

Notable Quotes

(No direct quotes were provided in the release.)