ProAm Explorations arranges $360,000 financing

ProAm Explorations Corporation (PMX) has arranged a private placement financing of up to $360,000. The company will issue 6,000,000 units at a price of $0.06 per unit. Each unit consists of one common share and one-half of a transferable share purchase warrant.

Warrant terms: Each whole warrant is exercisable at $0.10 per share for a period of 12 months from issuance.

Use of proceeds: General working capital purposes.

Related-party subscriptions: CEO Jason Cubitt and Director Rodney Stevens will each subscribe for up to 500,000 units, providing up to $30,000 in gross proceeds each.

Regulatory treatment: The company relies on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, based on insider participation not exceeding 25% of the fair market value of market capitalization.

Conditions: The placement is subject to Canadian Securities Exchange approval and securities are subject to a regulatory hold period.

ProAm Explorations Corporation (PMX) has secured financing to address its going concern warning and working capital deficit, though the execution underscores significant market dislocation. The placement price of $0.06 represents a 60% discount to the previous private placement price of $0.15 in April 2026, reflecting a lack of external investor appetite at higher valuations and a forced capitulation to current market pricing.

The issuance of 6 million units will dilute existing shareholders by approximately 23% on a fully diluted basis, compounding the heavy dilution already experienced throughout 2026. Insider participation is minimal relative to the total raise, signaling that management is not committing significant additional capital at these depressed levels. Additionally, the low warrant exercise price of $0.10 and short duration of 12 months create a near-term overhang, as warrants are likely to be exercised or sold, adding further selling pressure.

ProAm Explorations Corporation is an early-stage gold exploration company focused on the Golden Ridge project in western New Brunswick, Canada. The company acquired a 100% option interest in Golden Ridge in January 2026, committing $1.44 million in cash payments and $250,000 in work expenditures over 60 months. The project hosts a historical inferred resource of 520,200 ounces of gold grading 0.91 g/t from 17.78 million tonnes.

Exploration strategy focuses on expanding the known Poplar Mountain mineralization along a 13-kilometer structural corridor controlled by the Woodstock Fault. Recent work includes staking over 10 square kilometers of new ground, engaging Terrane Geoscience for structural modeling, and planning a Phase 1 airborne and field survey program.