Peruvian Metals closes final tranche of financing

Executive Summary

• Peruvian Metals Corp. has closed the second and final tranche of its non-brokered private placement, issuing 800,000 units for $120,000 in gross proceeds.
• The total offering now comprises six million units with aggregate gross proceeds of $900,000.
• Net proceeds are designated for expansion of the Aguila Norte processing plant, potential new acquisitions, and general working capital.

Key Details

• Tranche 2 Closing: Issued 800,000 units at $0.15 per unit, generating $120,000 in gross proceeds.
• Total Offering Size: Combined with the first tranche, the company issued 6,000,000 units total for $900,000 in gross proceeds.
• Security Structure: Each unit consists of one common share and one-half non-transferable share purchase warrant.
• Warrant Terms: Each warrant is exercisable to acquire one common share at $0.20 per share for two years from the closing date, subject to acceleration conditions.
• Finder’s Fees: Paid $24,399 in cash and issued 162,659 finders' warrants (with identical terms to the investor warrants) to arm's-length finders.
• Resale Restrictions: Securities are subject to resale restrictions until July 26, 2026 (for the first tranche) and July 31, 2026 (for the second tranche).
• Use of Proceeds: Improvements and additions to the Aguila Norte processing plant, potential new acquisitions, and general working capital.
• Regulatory Status: Completion remains subject to regulatory approvals, including TSX Venture Exchange approval.
• Insider Participation: Insiders subscribed for 81,300 units ($12,195), constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.

Notable Quotes

• None provided in the text.