Abacus arranges $300,000 private placement

Executive Summary

• Abacus Mining & Exploration Corp. has arranged a non-brokered private placement for gross proceeds of up to $300,000 (with a maximum cap of $500,000).
• The company is issuing up to 12 million units at a price of 2.5 cents per unit, with proceeds designated for general working capital.
• Each unit includes one common share and one-half of one non-transferable warrant, exercisable at 5 cents per share for three years.

Key Details

• Offering Size: Up to $300,000 in gross proceeds, with a maximum offering amount of $500,000.
• Units Issued: Up to 12 million units.
• Price: 2.5 cents per unit.
• Unit Composition: Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.
• Warrant Terms: Each whole warrant is exercisable to purchase one common share at an exercise price of 5 cents per share.
• Warrant Expiry: Three years from the date of closing.
• Use of Proceeds: General working capital purposes.
• Exemptions: Conducted pursuant to available prospectus exemptions, including BC Instrument 45-534 for existing security holders.
• Allocation: If subscriptions exceed $500,000, units will be allocated pro rata among qualifying subscribers unless the maximum offering amount is increased.
• Regulatory Approval: Subject to TSX Venture Exchange approval.
• Finder Fees: Certain finders may receive a cash fee and/or non-transferable finder warrants.
• Hold Period: All securities issued are subject to a four-month hold period under Canadian securities law.
• Company Assets: The company holds a 20% carried-to-production interest in the Ajax copper-gold project in BC, 100% of the Willow copper-molybdenum property in Nevada, and a lease on the adjacent Nev-Lorraine property.