Mongoose Mining Announces Closing of Previously Announced Private Placement

Executive Summary

• Mongoose Mining Ltd. closed a non‑brokered private placement raising $130,000 in total gross proceeds.
• The offering consisted of 1,800,000 flow‑through shares ($90,000) and 800,000 common (hard‑dollar) shares ($40,000) at $0.05 per share.
• Net proceeds will fund exploration and advancement of the Company’s Atlantic Canada projects, with flow‑through proceeds earmarked for Canadian Exploration Expenses eligible for a 30 % Critical Mineral Exploration Tax Credit.

Key Details

• Offering Structure:
• 1,800,000 flow‑through shares @ $0.05/share → $90,000 gross proceeds.
• 800,000 common (hard‑dollar) shares @ $0.05/share → $40,000 gross proceeds.
• Total Gross Proceeds: $130,000.
• Use of Proceeds:
• Fund exploration and advancement of projects in Nova Scotia and New Brunswick.
• Flow‑through portion to incur Canadian Exploration Expenses (CEE) that will be renounced to subscribers by Dec 31 2025.
• Tax Incentive: Flow‑through shares qualify for the enhanced 30 % Critical Mineral Exploration Tax Credit (CMETC).
• Regulatory Conditions:
• Subject to receipt of all required regulatory approvals, including CSE acceptance.
• Shares subject to a hold period of four months and one day from closing.
• Related Party Transaction: CEO Terence Coughlan participated; the transaction is expected to be exempt from MI 61‑101 valuation and minority approval thresholds (≤25 % market cap).
• Finder’s Fees: Company may pay finder’s fees to qualified parties in connection with the offering.

Notable Quotes

“The net proceeds from this financing will enable us to accelerate our exploration program across Atlantic Canada, leveraging the valuable tax incentives available for critical minerals,” – Terence Coughlan, CEO.