Iconic Minerals Ltd. Receives Final Acceptance to Close Non-Brokered Private Placement for Gross Proceeds of $3,750,000

Executive Summary

• Iconic Minerals received final acceptance from the TSX Venture Exchange for its previously announced non‑brokered private placement of up to 30 million units at $0.125 per unit, targeting gross proceeds of up to $3.75 million.
• Each unit consists of one common share and one warrant (exercise price $0.17, two‑year term) with a “Warrant Acceleration Clause” that may be triggered if the share price reaches $0.35 for ten non‑consecutive trading days.
• Proceeds will fund drilling and exploration at the New Pass gold property in Nevada and provide general working capital.

Key Details

• Financing Structure: Up to 30,000,000 units @ $0.125 per unit → maximum gross proceeds of $3,750,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant.
• Warrant Terms: Exercise price $0.17 per share; exercisable for two (2) years from issuance.
• Warrant Acceleration Clause: If TSX‑listed common shares close at ≥ $0.35 for a minimum of 10 non‑consecutive trading days (starting four months after financing close), the company may accelerate warrant expiry to 30 days after notice.
• Ownership Limitation: No holder (individually or jointly) may own/exercise warrants representing more than 9.9 % of issued and outstanding shares without filing a PIF for TSXV review.
• Use of Proceeds: Drilling and advancement of the New Pass gold property (Nevada); general working capital.
• Finder Compensation: Total cash payments of $57,881 plus 463,000 finder warrants (same exercise price and acceleration terms).
• Holding Period: All securities subject to a four‑month + one‑day hold period in Canada.
• Closing Conditions: Subject to TSXV approval; securities not registered under U.S. securities laws and may not be offered/sold in the United States or to U.S. persons.

Notable Quotes

(No executive quotes were included in the release.)