Abacus Mining further increases financing to $371,250

Executive Summary

• Abacus Mining & Exploration Corp. increased its non‑brokered private placement to up to 14.85 million units for gross proceeds of $371,250.
• Each unit consists of one common share and half a non‑transferable warrant (exercisable at $0.05 per share for three years).
• Proceeds will be used for general working capital, supporting the company’s 20 % interest in the Ajax copper‑gold project and its 100 % owned Willow copper‑molybdenum property in Nevada.

Key Details

• Original offering (Dec 8 2025): up to 12 M units at $0.025 per unit → max $300,000.
• First increase (Jan 6 2026): raised to 13.85 M units, gross proceeds up to $346,250.
• Second increase (same release): further raised to 14.85 M units, gross proceeds up to $371,250.
• Unit composition: 1 common share + 0.5 non‑transferable common share purchase warrant.
• Warrant terms: Exercise price $0.05 per share; exercisable for three years from closing date.
• Use of proceeds: General working capital, including funding for the Ajax copper‑gold development (20 % interest) and Willow/Nev‑Lorraine properties in Nevada.
• Exemptions relied upon: British Columbia Instrument 45‑534 and other prospectus exemptions for existing shareholders.
• Subscription cap handling: If subscriptions exceed $371,250, units will be allocated pro rata among qualifying subscribers unless the company elects to increase the cap further.
• Related‑party participation: Insiders may subscribe; transaction qualifies as a related‑party transaction under MI 61‑101 but is expected to be exempt from formal valuation and minority‑shareholder approval requirements (fair market value < 25 % of market cap).
• Regulatory filings: Company will file a material change report; timing may be less than 21 days before closing, consistent with market practice.
• TSX‑V approval: Financing is subject to Toronto Stock Exchange Venture Board approval.
• Finder compensation: Certain finders may receive cash fees and/or non‑transferable finder warrants.
• Holding period: All securities issued are subject to a four‑month hold period under Canadian securities law.

Notable Quotes

(No direct quotes were provided in the release.)