Chibougamau closes $200,000 FT private placement

Executive Summary

• Chibougamau Independent Mines Inc. completed a flow-through private placement, issuing 689,655 flow-through shares at $0.29 per share.
• The company raised approximately $200,000 in gross proceeds, which will be utilized for exploration activities on its Lac Chibougamau property in Quebec.
• Following the transaction, the total number of common shares issued and outstanding is 61,755,191, with the newly issued shares subject to a four-month hold period expiring on May 1, 2026.

Key Details

• Transaction Type: Flow-through private placement.
• Shares Issued: 689,655 flow-through shares.
• Price Per Share: $0.29 CAD.
• Gross Proceeds: Approximately $200,000 CAD.
• Use of Proceeds: Exploration on the Lac Chibougamau property in Quebec.
• Post-Transaction Share Count: 61,755,191 common shares issued and outstanding.
• Hold Period: The 689,655 shares are subject to a four-month statutory hold period under applicable securities legislation and TSX Venture Exchange policies, expiring on May 1, 2026.