EDM Announces Closing of $1M Non-Brokered Private Placement

Executive Summary

• EDM Resources Inc. closed a non‑brokered private placement raising C$1.0 million in gross proceeds.
• The offering consisted of 9,090,909 units at C$0.11 per unit, each unit including one common share and one warrant exercisable at C$0.14 until December 12 2028.
• Net proceeds will be used to complete the Fisheries Act Authorization Application for the Scotia Mine and for general working‑capital purposes.

Key Details

• Units sold: 9,090,909 units @ C$0.11 per unit → gross proceeds of C$999,999.99 (rounded to C$1 M).
• Unit composition: 1 common share + 1 share purchase warrant (exercise price C$0.14 per warrant share).
• Warrant acceleration clause: If the volume‑weighted average price of EDM’s common shares is ≥ $0.30 for 10 consecutive trading days, the company may accelerate warrant expiry to 30 days after notice.
• Insider participation: Insiders purchased 1,765,455 units (related‑party transaction exempt from MI 61‑101 valuation/approval thresholds).
• Broker compensation: C$16,016 cash paid and issuance of 145,600 broker warrants (exercise price $0.14 per share, expiry Dec 12 2028).
• Use of proceeds: Environmental work to complete the Fisheries Act Authorization for the Scotia Mine and general working capital.
• Closing date: The financing closed on December 12 2025.

Notable Quotes

“EDM is pleased to announce the closing of this $1M financing. Net proceeds of the Offering will be used to complete the Fisheries Act Authorization Application for our Scotia Mine and for general working capital purposes.” – Mark Haywood, President & CEO.