Medaro Mining arranges $1.25-million private placement

Executive Summary

• Medaro Mining Corp. announced a non-brokered private placement of up to 3,333,333 regular units and up to 657,894 flow-through units.
• The offering targets aggregate gross proceeds of up to $1.25 million, with proceeds allocated to general working capital, exploration of the Sweden property, and Canadian exploration expenses for the Clay Howells REE property.
• The transaction includes specific warrant structures for both regular and flow-through units, subject to a four-month hold period and CSE approval.

Key Details

• Regular Units: Up to 3,333,333 units offered at $0.30 per unit.
• Flow-Through Units: Up to 657,894 flow-through units offered at $0.38 per unit.
• Aggregate Gross Proceeds: Up to $1.25 million.
• Regular Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Regular Unit Warrant Terms: Exercisable into one common share at $0.45 per share for 24 months from issuance.
• Flow-Through Unit Composition: Each unit consists of one common share issued on a flow-through basis under the Income Tax Act (Canada) and one common share purchase warrant.
• Flow-Through Unit Warrant Terms: Exercisable into one non-flow-through common share at $0.55 per share for 24 months from issuance.
• Use of Proceeds (Regular Units): General working capital, including financing exploration work on the recently staked Sweden property and the Clay Howells REE property in Ontario.
• Use of Proceeds (Flow-Through Units): Incurring Canadian exploration expenses as defined in the Income Tax Act (Canada).
• Hold Period: All securities subject to a four-month hold period per Canadian securities laws and CSE policies.
• Conditions: Completion subject to necessary approvals, including the Canadian Securities Exchange (CSE).
• Finders' Fees: The company may pay finders' fees in connection with the private placement.