Arbor Metals closes $1-million private placement

Executive Summary

• Arbor Metals Corp. has closed a non-brokered private placement, raising $1 million in gross proceeds.
• The company issued 5 million units at a price of $0.20 per unit, with each unit comprising one flow-through common share and one-half of a share purchase warrant.
• Proceeds are designated for the continued exploration and development of the Jarnet lithium project and the Ernest REE project in Quebec.

Key Details

• Transaction Structure: Non-brokered private placement.
• Gross Proceeds: $1,000,000.
• Units Issued: 5,000,000 units.
• Price Per Unit: $0.20.
• Security Composition: Each unit consists of one common share (issued as a flow-through share under the Income Tax Act (Canada)) and one-half of one share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.25 per share.
  • Expiration Date: November 19, 2028.
• Finder’s Fees/Compensation:
  • An arm's-length party received 500,000 shares and 250,000 non-transferable share purchase warrants for introducing investors.
  • Finder’s Warrant Terms: Exercisable at $0.25 until November 19, 2028.
• Resale Restrictions: All securities are subject to a hold period until March 20, 2026.
• Use of Proceeds: Continued exploration and development of the Jarnet lithium project and the Ernest REE project, both located in Quebec.

Notable Quotes

• None provided in the text.