Search Minerals Closes Non-Brokered Private Placement Financings

Executive Summary

• Search Minerals closed its previously announced non‑brokered private placement, raising total gross proceeds of $843,847.
• The financing consisted of 1,487,694 flow‑through units at $0.50 each ($743,847 gross) and 303,030 common shares at $0.33 each ($100,000 gross).
• Proceeds will be used for eligible Canadian exploration expenses on the Foxtrot and Deep Fox projects (flow‑through portion) and for working capital/general corporate purposes (non‑flow‑through portion).

Key Details

• FT Units: 1,487,694 units @ $0.50 per unit = $743,847 gross. Each unit includes one flow‑through common share and half of a transferable non‑flow‑through warrant (exercise price $0.65, exercisable until Nov 6 2027).
• Charity Flow‑Through: 620,002 FT Units issued on a charity flow‑through basis via Wealth Creation Preservation & Donation Inc.
• Offered Shares: 303,030 common shares @ $0.33 per share = $100,000 gross (non‑flow‑through).
• Use of Proceeds – FT Financing: To incur eligible Canadian exploration expenses qualifying as flow‑through mining expenditures for the Foxtrot and Deep Fox projects; also intended to be eligible for the Critical Mineral Exploration Tax Credit.
• Use of Proceeds – Share Financing: Working capital and general corporate purposes.
• Finder’s Fees & Warrants: Paid $16,109.76 in cash finder’s fees (6% of FT unit gross proceeds) to Mine Equities Ltd. and Canaccord Genuity Corp.; issued 6,000 non‑transferable common share purchase warrants to Canaccord Genuity (exercise price $0.65, exercisable until Nov 6 2027).
• TSX Venture Exchange: Financings are subject to final acceptance by the TSX Venture Exchange.
• Holding Period: All FT shares, warrants, offered shares, and related issuable shares are subject to a hold period expiring on March 7 2026 under Canadian securities laws.

Notable Quotes

(No direct quotes were included in the release.)