Financings

Metalero Mining (MLO) Announces Updated Terms for its $300,000 Private Placement to Advance Benson Project

By The Northwire Desk — AI Analysis Oct 10, 2025 · 16:31 MLO · 0.155 Metalero Mining Corp.

MLO · Price

Metalero Mining Corp. announced an updated non‑brokered private placement to raise up to $300,000 in gross proceeds for the next phase of exploration at its flagship Benson Project.
The offering will consist of up to 1,428,572 flow‑through units priced at $0.21 per unit, each unit containing one flow‑through common share and one common share purchase warrant (exercise price $0.26, two‑year term).
Proceeds are earmarked for Fall 2025 sampling and ground geophysics work on the Benson Project in British Columbia’s Quesnel Trough.

Units Offered: Up to 1,428,572 FT Units at $0.21 per unit → maximum gross proceeds of $300,000.
Unit Composition:
1 flow‑through common share (FT Share) – qualifies for Canadian and BC flow‑through tax deductions.
1 common share purchase warrant – holder may buy one additional non‑flow‑through common share at $0.26 per share, exercisable for two years from issuance.
Use of Proceeds: Fund Fall 2025 exploration activities on the Benson Project, specifically additional surface sampling and ground geophysical surveys.
Holding Period: Securities issued will be subject to a lock‑up of four months and one day after closing.
Regulatory Conditions: Offering pending all required approvals, including TSX Venture Exchange acceptance.
Project Background: Metalero has a binding LOI to acquire 100 % of the Benson Project, a 166 km² land package in the Quesnel Trough with AI‑identified porphyry‑like targets and historic surface anomalies for gold and copper.
Qualified Person: Technical content reviewed by Michael Dufresne, M.Sc., P.Geol., P.Geo., non‑independent qualified person per NI 43‑101.

“The updated private placement provides the necessary capital to advance our flagship Benson Project through critical fall field work, positioning Metalero for continued growth in a world‑class copper‑gold district,” – Rob L'Heureux, CEO & President.

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