Conquest Resources arranges $450,000 private placement

Executive Summary

• Conquest Resources Ltd. announced a non-brokered private placement financing for gross proceeds of up to $450,000.
• The financing consists of up to six million charity flow-through common shares priced at 7.5 cents per share.
• Proceeds are designated for eligible Canadian exploration expenses related to the company's Belfast-Teck mag project in Ontario.

Key Details

• Transaction Structure: Non-brokered private placement of charity flow-through common shares.
• Quantity: Up to 6,000,000 flow-through (FT) shares.
• Price: 7.5 cents per FT share.
• Gross Proceeds: Up to $450,000.
• Use of Proceeds: To incur eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada) for the Belfast-Teck mag project in Ontario.
• Tax Benefits: Expenditures also qualify as eligible Ontario exploration expenditures for individual subscribers resident in Ontario or partnerships with such members.
• Regulatory Conditions: Subject to receipt of all necessary regulatory approvals, including acceptance by the TSX Venture Exchange.
• Hold Period: Shares are subject to a hold period of four months and one day from the closing date.
• Technical Advisor: Joerg Kleinboeck, PGeo, reviewed and approved the technical content.

Notable Quotes

• No direct quotes from management were included in the provided text.