Camino Minerals arranges $5.6-million placement

Executive Summary

• Camino Minerals Corp. has arranged a non-brokered private placement to raise approximately C$5.6 million in gross proceeds.
• The financing includes participation from strategic investors EMX Royalty Corp. and Continental General Insurance Company (CGIC), alongside continued support from existing major shareholder Denham Capital.
• Net proceeds will fund corporate working capital, engineering studies, and project financing costs for the Puquios copper mine in Chile, with a production decision targeted for spring 2026.

Key Details

• Financing Structure: Non-brokered private placement raising C$5.6 million in gross proceeds.
• Share Issuance: Issuance of 15,554,666 common shares at a price of C$0.36 per share.
• Strategic Investors:
  • EMX Royalty Corp.: New significant shareholder.
  • Continental General Insurance Company (CGIC): New significant shareholder; one of the largest shareholders of Camino's partner, Nittetsu Mining.
  • Denham Capital: Existing largest shareholder; expected to own approximately 41% of Camino following the closing of the placement and the issue of additional vendor shares.
• Related Vendor Shares: Separately, the company intends to issue 5,833,334 shares to Santiago Metals Investment Holdings II SLU and Santiago Metals Investment Holdings II-A LLC at a deemed price of C$0.36 per share, pursuant to a share purchase agreement dated Oct. 4, 2024.
• Insider Participation: Insiders (Christopher Adams, Ziad Saliba, and Shawn Turkington) are expected to acquire an aggregate of 276,888 shares for approximately $99,680. This is a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.
• Use of Proceeds: Corporate working capital, legal expenses, engineering studies, project financing costs, general administrative expenses, and other expenses.
• Hold Period: All securities issued are subject to a hold period of four months and one day from the date of issuance.
• Closing Conditions: Subject to regulatory approvals, including TSX Venture Exchange approval. Expected closing on or about Nov. 14, 2025.
• Project Update: Camino and partner Nittetsu Mining are progressing development of the Puquios copper mine in Chile, aiming for a production decision in spring 2026, and are in discussions with Japanese lenders for a project development loan.

Notable Quotes

• "The strategic funding from CGIC and EMX along with continued support from our existing partners Denham Capital and Nittetsu Mining, sets Camino on the path to first copper production at our Puquios project in Chile," said Jay Chmelauskas, chief executive officer of Camino. "These strategic investors in Camino have a track record of strong performance in the mining sector aligning with Camino's value creation strategy for achieving a rerating of our Puquios copper development in Chile, and for the ongoing copper exploration drilling under way in Peru."