Abacus Mining closes $371,250 private placement

Executive Summary

• Abacus Mining & Exploration Corp. closed a non‑brokered private placement, raising $371,250 in gross proceeds.
• The company issued 14.85 million units at $0.025 per unit, each unit comprising one common share and half of a warrant (full warrant exercisable at $0.05 per share until Jan. 19 2029).
• Proceeds will be used for general working capital; the placement is subject to a four‑month statutory hold period expiring May 20 2026 and final acceptance by the TSX Venture Exchange.

Key Details

• Placement Structure: 14.85 million units @ $0.025/unit → total gross proceeds of $371,250.
• Unit Composition: 1 common share + ½ warrant; each full warrant allows purchase of one share at $0.05 per share (exercisable until Jan 19 2029).
• Statutory Hold Period: Four‑month hold on all securities issued, expiring May 20 2026.
• Regulatory Conditions: Final acceptance required from the TSX Venture Exchange; material change report to be filed (may be filed less than 21 days prior to closing).
• Use of Proceeds: General working capital for Abacus Mining & Exploration Corp.
• Related Party Participation: Certain insiders acquired securities under the placement; transaction exempt from MI 61‑101 valuation and minority approval thresholds (≤25% of market cap).
• Project Holdings Mentioned: 100% interest in Willow copper‑molybdenum property (Nevada); lease on adjacent Nev‑Lorraine property; 20% carried interest in the advanced Ajax copper‑gold development project (British Columbia).

Notable Quotes

(No direct quotes provided in the release.)