Casa Minerals arranges $800,000 private placement

Executive Summary

• Casa Minerals Inc. has arranged a non-brokered private placement raising aggregate gross proceeds of $800,000.
• The company issued up to 6.4 million units at a price of 12.5 cents per unit, with each unit comprising one common share and one common share purchase warrant.
• Net proceeds are designated for general and administrative expenses and property investigations in Arizona and British Columbia.

Key Details

• Gross Proceeds: $800,000
• Unit Price: 12.5 cents per unit
• Total Units Issued: Up to 6.4 million units
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Entitles holder to acquire one additional share.
  • Exercise period: Two years from date of issuance.
  • Strike Price: 15 cents per share for the first three months; automatically increases to 20 cents per share for the remainder of the two-year period.
• Finder's Fee: 6% payable in cash or shares to eligible finders, in accordance with TSX Venture Exchange policies.
• Use of Proceeds: Primarily for general and administrative expenses and property investigations on projects in Arizona and British Columbia.
• Regulatory Conditions: Subject to statutory hold period of four months and one day from closing; subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

• None provided in the text.