Apogee Minerals Closes Non-Brokered Private Placement Financing

Executive Summary

• Apogee Minerals Ltd. closed a non-brokered private placement financing, issuing 54,875,000 units at $0.05 per unit to raise gross proceeds of $2,743,750.
• Each unit includes one common share and one transferrable common share purchase warrant exercisable at $0.075 per share for a four-year term.
• Net proceeds will fund general working capital and exploration expenditures in Saskatchewan, with issued units subject to a statutory 4-month and 1-day hold period.

Key Details

• Gross Proceeds: $2,743,750
• Units Issued: 54,875,000
• Price Per Unit: $0.05
• Warrant Terms: 1 transferrable warrant per unit; exercisable at $0.075 per share; valid for 4 years from issue date
• Finder's Fee: $1,600 paid to an arm's-length finder
• Use of Proceeds: General working capital and exploration expenditures in Saskatchewan
• Hold Period: 4 months and 1 day from issuance under applicable Canadian securities laws
• Related Party Participation: Certain related parties participated; the Company relied on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101 and TSXV Policy 5.9, as the fair market value of related party units does not exceed 25% of the Company’s market capitalization
• Regulatory/Compliance: Securities not registered under the U.S. Securities Act of 1933; not offered or sold in the United States or to U.S. persons