Fredonia Mining increases financing to $6-million

Executive Summary

• Fredonia Mining Inc. has announced an upsize of its previously announced best efforts private placement, increasing the aggregate gross proceeds to up to approximately C$6 million.
• The offering consists of 15 million units priced at 40 cents per unit, with each unit comprising one common share and one-half of one common share purchase warrant.
• Net proceeds are intended for the exploration and advancement of the El Dorado Monserrat project in Argentina, as well as general corporate and working capital purposes.

Key Details

• Offering Size: Upsized to up to C$6 million in aggregate gross proceeds.
• Units Issued: 15 million units.
• Price Per Unit: 40 cents (CAD).
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of 56 cents.
• Warrant Expiry: 36 months following the closing date.
• Over-Allotment Option: The sole agent has an option to increase the offering size by up to an additional $1 million in gross proceeds, exercisable prior to the closing date.
• Use of Proceeds: Exploration and advancement of the El Dorado Monserrat project (Santa Cruz province, Argentina) and general corporate/working capital purposes.
• Regulatory Basis: Conducted pursuant to Section Part 5A.2 of National Instrument 45-106 (Prospectus Exemptions) and Coordinated Blanket Order 45-935 (Listed Issuer Financing Exemption).
• Jurisdictions: Available to purchasers in Canada (excluding Quebec), the United States, and other jurisdictions outside Canada and the US.
• Hold Period: No hold period in Canada for unit shares, warrant shares, or shares issued upon exercise of warrants.
• Expected Closing Date: On or about February 4, 2026.
• Final Closing Deadline: No later than the 45th day following the date of the news release for units issued under the listed issuer financing exemption.
• Conditions Precedent: Negotiation of an agency agreement and receipt of necessary approvals, including TSX Venture Exchange approval (if applicable).

Notable Quotes

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