Auriginal Mining closes $4.79-million financing

Executive Summary

• Auriginal Mining Corp. has closed a non-brokered private placement raising approximately $4.8 million in aggregate gross proceeds.
• The company issued a mix of regular units, flow-through (FT) shares, and charity flow-through units, with four insiders participating in the offering.
• Proceeds will be used for eligible Canadian exploration expenses on the flagship Roger project in Quebec, with expenditures to be renounced to subscribers by December 31, 2025.

Key Details

• Aggregate Gross Proceeds: Approximately $4,798,542.
• Insider Participation: Four insiders participated for aggregate gross proceeds of $165,500; classified as a related party transaction under MI 61-101.
• Securities Issued:
  • Regular Units: 2,221,428 units issued at $0.07 per unit. Each unit consists of one common share and one-half of one common share purchase warrant.
  • Flow-Through (FT) Shares: 36,164,752 FT shares issued at $0.09 per share.
  • Charity Flow-Through Units: 12,071,429 charity FT units issued at $0.115 per unit. Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Investors):
  • All investor warrants are exercisable at $0.12 per share.
  • Exercise period is 24 months following the closing date.
• Use of Proceeds: Gross proceeds from FT shares and charity FT units will fund eligible Canadian exploration expenses (flow-through critical mineral mining expenditures) on the Roger project in the Chibougamau district, Quebec.
• Renunciation Date: Qualifying expenditures to be renounced in favor of subscribers effective December 31, 2025.
• Expenditure Deadline: Qualifying expenditures to be incurred on or before December 31, 2026.
• Finder’s Fees:
  • Cash payments of up to $219,257 (up to 7% of aggregate proceeds).
  • Non-transferable warrants up to 2,311,353 (up to 7% of FT and charity FT units sold).
• Finder’s Warrant Terms:
  • 1,712,928 warrants exercisable at $0.09 per share.
  • 598,425 warrants exercisable at $0.12 per share.
  • Exercise period is 24 months following the closing date.
• Hold Periods: Securities issued to investors and finders' warrants are subject to a four-month hold period under applicable securities laws.
• Regulatory Status: Final satisfaction of finders' fees is subject to TSX Venture Exchange acceptance.