SLAM Closes Second And Final Tranche Of Private Placement And Raises $211,000

Executive Summary

• SLAM Exploration Ltd. closed the second and final tranche of its non‑brokered private placement, raising $211,000 in gross proceeds.
• The total amount raised across both tranches now equals $900,000 from the issuance of 2,302,750 units at $0.40 per unit.
• Proceeds will be allocated to Canadian exploration expenses on New Brunswick properties (flow‑through shares) and general corporate purposes, including working capital and development activities.

Key Details

• Units Issued – Tranche 2: 527,500 units @ $0.40 per unit → $211,000 gross proceeds.
• Aggregate Offering: $900,000 total gross proceeds from 2,302,750 units across both tranches.
• Unit Composition:
• Four (4) flow‑through common shares (FT Shares)
• One (1) non‑flow‑through common share (NFT Share)
• Two and a half (2.5) transferable non‑flow‑through common share purchase warrants (each whole warrant = two half‑warrants).
• Warrant Terms: Each whole warrant allows purchase of one additional common share at $0.12 for 24 months from issuance; may be accelerated to expire 20 days after a press release if TSXV price ≥ $0.20 for 30 consecutive trading days.
• Use of Proceeds – FT Shares: Funding Canadian Exploration Expenses (CEE) on New Brunswick properties, expected to qualify as flow‑through critical mineral mining expenditures and eligible for the 30% Critical Mineral Exploration Tax Credit; renunciation to subscribers by Dec 31 2025 (or earlier if permitted).
• Use of Proceeds – NFT Shares & Warrants: General corporate purposes, including working capital and corporate development activities.
• Regulatory Conditions: Offering subject to final acceptance by the TSX Venture Exchange and other required approvals.
• Statutory Hold Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period expiring on 2026‑02‑11.
• Finder’s Fees: No finder’s fees were paid on this tranche.
• Insider Participation: One insider purchased 112,500 units in the second tranche; transaction qualifies as a related‑party transaction under MI 61‑101 but fell below the 25% market‑cap threshold, invoking exemption from formal valuation and minority‑shareholder approval requirements.
• No Offer to U.S. Persons: The release includes standard safe‑harbor language stating the securities are not offered or sold in the United States.

Notable Quotes

(None provided in the release)