Soma Gold closes $1.73M final tranche of placement

Mr. Geoff Hampson reports SOMA GOLD CORP. COMPLETES FINAL TRANCHE OF ITS LIFE OFFERING FOR TOTAL PROCEEDS OF $17.25 MILLION Soma Gold Corp. has closed the second and final tranche of its previously announced non-brokered private placement under the listed issuer financing exemption pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions) and the further exercise of the greenshoe option. Under the second tranche, the company issued and sold an additional 1,508,260 units at a price of $1.15 per unit for aggregate gross proceeds of approximately $1,734,500. In total, the company has sold and issued an aggregate of 14,997,826 units for aggregate gross proceeds of approximately $17.25-million over both tranches of the offering. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at an exercise price of $2 per common share for a period of 36 months from the date of issuance. The warrants are subject to an accelerated exercise provision that stipulates that, if the shares of the company trade above $3 for a period of 30 days, the warrants will expire 30 days after such date unless exercised earlier. The proceeds from the offering will support Soma's continuing mill expansion efforts, installation of ore sorting infrastructure, accelerated exploration and development of the Nechi mine, and general working capital needs. "We are extremely pleased to have successfully closed this oversubscribed financing. The strong demand we received, including participation from strategic investors, gives us the flexibility to aggressively advance our growth plans while continuing to build long-term value for shareholders," said Geoff Hampson, chief executive officer of Soma Gold. In connection with the second tranche of the offering, the company paid an aggregate $104,070 in cash commissions and issued an aggregate 90,496 finders' warrants in connection with the offering. Each finder's warrant entitles the holder to acquire one additional common share at a price of $2 for a period of 36 months following the date of issuance. An offering document related to the offering is available under the company's profile on SEDAR+ and on Soma's website. The offering remains subject to the final approval of the TSX Venture Exchange. About Soma Gold Corp. Soma Gold is a profitable mining company focused on gold production and exploration. The company owns over 43 square kilometres of mineral concessions following the prolific Otu fault in Antioquia, Colombia, and two fully permitted mills located within 25 kilometres of each other, with a combined milling capacity of 675 tonnes per day. El Bagre mill operates at 450 tpd, and El Limon mill is slated to restart operations in third quarter 2025. Internally generated funds are being used to finance a regional exploration program. With a solid commitment to sustainability and community engagement, Soma Gold is dedicated to achieving excellence in all aspects of its operations. The company also owns an exploration property near Tucuma, Para state, Brazil, that is currently under option to Ero Copper Corp. We seek Safe Harbor.