Stearman Resources Announces First Tranche Closing of Non-Brokered Private Placement

Executive Summary

• Stearman Resources Inc. closed the first tranche of its non‑brokered private placement, issuing 10 million NFT units at $0.15 each for gross proceeds of $1.5 million.
• The net proceeds are earmarked for general working capital and corporate purposes.
• Finder’s fees of $49,500 in cash and additional equity/warrant compensation were paid in connection with the tranche.

Key Details

• Units Issued: 10,000,000 non‑flow‑through (NFT) units at $0.15 per unit.
• Gross Proceeds: $1,500,000.
• Unit Composition: Each NFT unit = 1 common share + ½ of a common share purchase warrant.
• Warrant Terms: Warrants allow acquisition of one share at $0.30 for 24 months from issuance.
• Statutory Hold Period: Units subject to a 4‑month + 1‑day hold period under securities law.
• Finder’s Fees Paid:
• Cash fees: $49,500.
• Equity compensation: 81,000 finder’s shares at $0.15 each.
• Warrants issued: 411,000 non‑transferable finder’s warrants (same exercise price and term as unit warrants).
• Use of Proceeds: General working capital and corporate purposes.
• CEO Quote: “We're very pleased with the strong investor support shown in the first tranche… this financing marks an important step forward as we continue to advance our corporate objectives and position Stearman for growth in the months ahead.” – Lester Esteban, CEO.

Notable Quotes

"We're very pleased with the strong investor support shown in the first tranche," said Lester Esteban, CEO of Stearman Resources. "This financing marks an important step forward as we continue to advance our corporate objectives and position Stearman for growth in the months ahead."