Metalero Mining increases financing to $850,000

Executive Summary

• Metalero Mining Corp. upsized its private placement from up to $600,000 to up to $850,000 in aggregate gross proceeds.
• The offering now includes up to 7,083,333 units at C$0.12 per unit, each unit consisting of one common share and one warrant.
• Proceeds will fund continued exploration at the Benson project in central British Columbia and provide general working capital.

Key Details

• Upsized Offering Size: Aggregate gross proceeds increased to up to C$850,000 (from C$600,000).
• Units Offered: Up to 7,083,333 units at C$0.12 per unit.
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms:
• Exercise price C$0.25 per share for the first year after closing.
• Exercise price C$0.35 per share for the second year after closing.
• Warrants exercisable up to two years from the closing date.
• Use of Proceeds:
• Advance exploration at the flagship Benson project (central British Columbia), including follow‑up work on recent soil sampling and ground geophysical surveys.
• Allocate funds for general working capital.
• Finders’ Fees: Metalero may pay arm’s‑length finders in accordance with TSX‑V policies and applicable securities laws.
• Regulatory Conditions: Offering subject to approval of the TSX Venture Exchange; all securities issued will be subject to a four‑month‑and‑one‑day hold period.

Notable Quotes

(No direct quotes were provided in the release.)