Fidelity Minerals appoints Batros as CEO

Executive Summary

• Fidelity Minerals Corp. appointed Ryan Batros as its new Chief Executive Officer, succeeding interim CEO Ian Graham.
• The company closed the second and final tranche of a non-brokered private placement, raising $150,000 gross proceeds.
• Strategic partner Metals One PLC acquired 5 million units (10 cents per unit) across both tranches, resulting in a significant equity stake in the company.

Key Details

• Executive Appointment:
  • Ryan Batros appointed as CEO; brings over 20 years of experience in financial services, stockbroking, corporate advisory, and investor relations.
  • Ian Graham resigned as interim CEO but remains an independent board member.
  • Batros tasked with developing the Las Huaquillas project in Peru and assessing accretive business opportunities.
• Financing Details (Second Tranche):
  • Closed second and final tranche of non-brokered private placement.
  • Issued 1.5 million units at $0.10 per unit.
  • Gross proceeds from second tranche: $150,000.
  • Total aggregate proceeds for both tranches: $1.5 million (15 million units total).
  • Use of proceeds: Advance Peruvian exploration and community relation programs, and corporate working capital.
• Warrant Terms (Second Tranche):
  • Each unit consists of one common share and one-half common share purchase warrant.
  • Full warrant exercisable to purchase one common share at $0.20.
  • Warrants expire December 5, 2027.
• Strategic Investor (Metals One PLC):
  • Acquired 5 million total units at $0.10 per unit for $500,000 aggregate consideration across both tranches.
  • Prior to placement, Metals One held no securities.
  • Post-placement ownership: 5 million common shares and 2.5 million warrants.
  • Ownership percentage: 12.47% on a non-diluted basis; 17.61% on a partially diluted basis (assuming warrant exercise).
  • Metals One has filed an early warning report on SEDAR+.
• Finders' Fees:
  • First tranche: $33,775 in cash fees and 337,750 finders' warrants issued.
  • Finders' warrants exercisable at $0.20 per share until October 7, 2027.
  • Second tranche: No commissions or finder fees payable.
• Regulatory and Hold Periods:
  • Securities subject to a four-month hold period expiring April 6, 2026.
  • Closing subject to final approval of the TSX Venture Exchange.

Notable Quotes

• "Mr. Batros has over 20 years of experience in the financial services industry with senior roles in stockbroking, corporate advisory, equity capital markets and investor relations. He brings a vast amount of market knowledge to the company and is a well-respected member of the investment community."