Mercado Minerals increases financing to $5.59-million

Executive Summary

• Mercado Minerals Ltd. has upsized its previously announced non-brokered private placement due to strong investor interest.
• The company is offering 27.99 million units at $0.20 per unit, raising up to $5,598,000 in gross proceeds.
• Proceeds will be used for the exploration of the Copalito and Zamora properties, acquisition costs, new project acquisitions, investor relations, and general corporate working capital.

Key Details

• Units Offered: 27.99 million units.
• Price: $0.20 per unit.
• Gross Proceeds: Up to $5,598,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable to acquire one common share at an exercise price of $0.35 for a period of 36 months.
• Use of Proceeds: Exploration of recently acquired properties (Copalito and Zamora), acquisition costs, generation of new project acquisitions, investor relations programs, and general corporate working capital.
• Finders' Fees: Up to 7% in cash and 7% in finders' warrants.
• Finder's Warrant Terms: Exercisable at $0.35 for a period of 36 months.
• Regulatory Reliance: Relies on exemptions from valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
• Hold Period: All securities issued are subject to a hold period of four months and one day.
• Closing: Expected in early December 2025, subject to regulatory approvals including from the Canadian Securities Exchange.
• Insider Participation: Insiders may participate in the offering.

Notable Quotes

• None provided in the text.