Peruvian Metals closes $780,000 private placement

Executive Summary

• Peruvian Metals Corp. has closed a non-brokered private placement, issuing 5.2 million units for gross proceeds of $780,000.
• The proceeds are designated for expansion of the Aguila Norte processing plant, potential new acquisitions, and general working capital.
• Insiders subscribed for 81,300 units ($12,195), constituting a related party transaction exempt from formal valuation requirements under MI 61-101.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 5,200,000 units.
• Issue Price: $0.15 per unit.
• Gross Proceeds: $780,000.
• Warrant Terms: Each unit includes one-half non-transferable share purchase warrant. Each warrant is exercisable for one common share at an exercise price of $0.20 per share.
• Warrant Expiry: One year from the closing date.
• Resale Restrictions: Securities are subject to resale restrictions until July 26, 2026.
• Finder’s Fees: Aggregate fees of $15,999 paid in cash, plus 106,659 finders warrants issued to arm's-length finders (warrants have identical terms to those issued with the units).
• Use of Proceeds: Improvements and additions for expansion to the Aguila Norte processing plant, potential new acquisitions, and general working capital requirements.
• Regulatory Status: Completion remains subject to regulatory approvals, including TSX Venture Exchange approval.
• Insider Participation: Insiders acquired 81,300 units for $12,195. This is classified as a "related party transaction" under Multilateral Instrument 61-101 but is exempt from formal valuation and minority shareholder approval requirements as the value does not exceed 25% of market capitalization.

Notable Quotes

• None provided in the text.