Mercado Minerals closes $5.59-million private placement

Executive Summary

• Mercado Minerals Ltd. has closed a non-brokered private placement, raising gross proceeds of $5,598,000.
• The company issued 27.99 million units at $0.20 per unit, with Vizsla Silver Corp. participating as a strategic shareholder.
• Proceeds are designated for the exploration of the Copalito and Zamora properties, acquisition costs, and general corporate working capital.

Key Details

• Gross Proceeds: $5,598,000
• Units Issued: 27.99 million units
• Price Per Unit: $0.20
• Strategic Investor: Vizsla Silver Corp. participated in the offering.
• Warrant Terms (Investors): Each unit includes one common share and one-half of one common share purchase warrant. Warrants are exercisable at $0.35 per share until November 28, 2028.
• Finders' Fees: $218,400 paid in cash.
• Finders' Warrants: 1,074,500 warrants issued to eligible parties, exercisable at $0.35 per share until November 28, 2028.
• Hold Period: All securities issued are subject to a four-month-and-one-day hold period expiring on March 29, 2026.
• Use of Proceeds: Allocation towards exploration of recently acquired properties (Copalito and Zamora), acquisition costs, generation of new project acquisitions, investor relations programs, and general corporate working capital.

Notable Quotes

• "We received overwhelming support in this financing, and I am excited to start advancing Copalito and Zamora as we strive to become a premier explorer focused on the underexplored western margin of the Sierra Madre. I would like to welcome Vizsla as a shareholder and I am looking forward to their support as we grow." — Daniel Rodriguez, CEO and Director