Heritage Mining arranges $810,000 private placement

Executive Summary

• Heritage Mining Ltd. has arranged a non-brokered private placement of units and flow-through units for aggregate gross proceeds of up to $810,000.
• The offering consists of two tranches: up to 10 million standard units at 2.5 cents per unit ($250,000) and up to 20 million flow-through (FT) units at 2.8 cents per unit ($560,000).
• Proceeds will be used to finance exploration and drilling programs on the Drayton-Black Lake and Contact Bay projects, as well as for general working capital.

Key Details

• Standard Units: Up to 10,000,000 units issued at $0.025 per unit, generating up to $250,000 in gross proceeds.
• Flow-Through (FT) Units: Up to 20,000,000 FT units issued at $0.028 per unit, generating up to $560,000 in gross proceeds.
• Unit Composition: Each standard unit consists of one common share and one common share purchase warrant. Each FT unit consists of one common share (qualifying as a flow-through share under Subsection 66(15) of the Income Tax Act (Canada)) and one warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of $0.05 per warrant share. The warrants are exercisable until 4:30 p.m. PST, 60 months from the closing date.
• Use of Proceeds (FT): Gross proceeds from FT units will be used to incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures, which are also eligible for the critical mineral exploration tax credit.
• Use of Proceeds (General): Proceeds will finance planned exploration and drilling programs on the Drayton-Black Lake project and Contact Bay, plus general working capital.
• Closing Date: Expected on or around November 28, 2025.
• Hold Period: Securities are subject to a four-month hold period under applicable securities laws.
• Finder’s Fees:
  • Standard fee: 7% cash and compensation unit warrants equal to 7% of gross proceeds. Compensation unit warrants allow acquisition of one common share and one warrant at $0.05 exercise price for 60 months.
  • President’s List fee: 1.0% cash compensation on certain orders.
• Lead Orders: The company secured lead orders totaling up to $550,000 from insiders, institutions, advisers, consultants, and existing shareholders.

Notable Quotes

• "Heritage Mining Ltd. has secured lead orders totalling up to $550,000 from insiders, institutions, advisers, consultants and existing shareholders. We are grateful for the continued support of existing stakeholders and look forward to closing the financing on or around Nov. 28, 2025," commented Peter Schloo, president, chief executive officer and director.