Peruvian Metals closes $1-million private placement

Executive Summary

• Peruvian Metals Corp. has closed its non-brokered private placement, issuing 10 million units for gross proceeds of $1 million.
• The offering includes warrants exercisable at 15 cents per share, with net proceeds designated for exploration strategy and general working capital.
• Insiders subscribed for 1,205,000 units ($120,500), a transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 10,000,000 units.
• Issue Price: $0.10 per unit.
• Gross Proceeds: $1,000,000.
• Warrant Terms: Each unit includes one-half non-transferable share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of $0.15 per share.
• Warrant Expiry: One year from the closing date.
• Resale Restrictions: All securities are subject to resale restrictions until June 26, 2026.
• Finder’s Fees: Aggregate cash fees of $39,690 paid to arm's-length finders.
• Finder’s Warrants: Aggregate of 396,900 warrants issued to finders, with terms identical to the investor warrants.
• Use of Proceeds: Advancing exploration strategy and general working capital requirements.
• Insider Participation: Insiders acquired 1,205,000 units for $120,500.
• Regulatory Status: Completion subject to regulatory approvals, including TSX Venture Exchange approval.
• MI 61-101 Exemption: Insider participation is exempt from formal valuation and minority shareholder approval because neither the fair market value of shares nor the consideration paid exceeds 25% of the company's market capitalization.

Notable Quotes

• None provided in the text.