Medaro closes $976,100 private placement

Executive Summary

• Medaro Mining Corp. has closed a non-brokered private placement with aggregate gross proceeds of $976,100.18.
• The financing consists of two tranches: non-flow-through units and flow-through units, with specific warrant terms and pricing for each.
• Net proceeds are designated for exploration activities on the Sweden and Clay Howells West properties, as well as general corporate purposes.

Key Details

• Aggregate Gross Proceeds: $976,100.18
• Non-Flow-Through (NFT) Units:
  • Quantity: 2,387,000 units
  • Price: $0.30 per unit
  • Composition: One common share and one common share purchase warrant per unit
  • Warrant Terms: Exercisable at $0.45 per share for a period of 36 months from issuance
• Flow-Through (FT) Units:
  • Quantity: 684,211 units
  • Price: $0.38 per unit
  • Composition: One common share (issued on a flow-through basis pursuant to the Income Tax Act (Canada)) and one common share purchase warrant per unit
  • Warrant Terms: Exercisable at $0.55 per share for a period of 36 months from issuance
• Finders' Fees and Warrants:
  • Cash Finders' Fees Paid: $68,327.01
  • NFT Finders' Warrants Issued: 167,090 non-transferable warrants, exercisable at $0.45 per share for 36 months
  • FT Finders' Warrants Issued: 47,894 warrants, exercisable at $0.55 per share for 36 months
• Warrant Term Adjustment: The exercise period for warrants underlying both NFT and FT units was extended from 24 months to 36 months from the date of issuance; all other terms remain unchanged.
• Use of Proceeds:
  • Advance exploration activities at the Sweden property (Sweden) and Clay Howells West property (Ontario)
  • General corporate purposes and administrative expenses
  • Gross proceeds from FT units specifically used to incur Canadian exploration expenses under the Income Tax Act (Canada)
• Hold Period: All securities are subject to a statutory four-month hold period.

Notable Quotes

• None provided in the text.