Mosaic Announces the Appointment of Director and Financing

Executive Summary

• Mosaic Minerals announced the appointment of Robert Gagnon, P.Geo., to its Board of Directors.
• The Company launched a non‑brokered private placement for up to C$500,000 consisting of 7 million Units at $0.05 each and 2,142,857 flow‑through Units at $0.07 each.
• Incentive stock options were granted to consultants for the purchase of up to 250,000 common shares at $0.075 per share.

Key Details

• Director Appointment: Robert Gagnon, P.Geo., former President of Pershimex Resources Corp., joins Mosaic’s board; brings extensive exploration project management experience and knowledge of the Golden Island Project.
• Financing – Units: Up to 7,000,000 Units at C$0.05 per Unit (gross proceeds up to C$350,000). Each Unit = 1 common share + 1 common‑share purchase warrant (exercise price C$0.07, 24‑month term).
• Financing – Flow‑Through Units: Up to 2,142,857 FT Units at C$0.07 per FT Unit (gross proceeds up to C$150,000). Each FT Unit = 1 flow‑through common share + 1 warrant (exercise price C$0.09, 12‑month term).
• Use of Proceeds: Funds will be applied to exploration activities on the Golden Island Project and for general corporate purposes; FT Unit proceeds earmarked for eligible Canadian exploration expenses qualifying as flow‑through mining expenditures, to be renounced to subscribers effective Dec 31 2025.
• Offering Conditions: Subject to receipt of all required approvals, including CSE approval; FT Units offered under accredited investor and minimum amount exemptions (NI 45‑106); statutory hold period of four months plus one day post‑closing.
• Finder’s Fees: Company may pay fees to third‑party finders.
• Stock Option Grant: Consultants granted options to purchase up to 250,000 common shares at $0.075 per share, exercisable over five years under the company’s Stock Option Plan.
• Current Capital Structure: 78,490,571 common shares issued and outstanding; 5,900,000 options (including the new grant); 6,498,375 warrants outstanding.

Notable Quotes

“We are very pleased with the appointment of Robert Gagnon, an exploration geologist who brings another dimension of expertise to our board of directors. His experience and knowledge of the Golden Island project are valuable assets for its future development.” – Jonathan Hamel, President and CEO

Materiality: Material – Positive (significant financing raise and strategic board addition).