Peloton Minerals closes third tranche of placement

Executive Summary

• Peloton Minerals Corp. closed a non-brokered private placement financing, raising $134,100 from the issuance of 1.49 million units.
• This transaction represents the third tranche of the offering, bringing the total cumulative proceeds to $1,170,352.53.
• Proceeds are designated for lithium exploration at the North Elko project in northern Nevada and for working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 1,490,000 units.
• Price per Unit: $0.09.
• Gross Proceeds: $134,100.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercisable for three years at an exercise price of $0.12 per share.
  • Broker warrants issued equal to 10% of the units issued, exercisable into a unit of the offering at the offering price for 60 months.
• Fees: 8% of funds raised paid as fees.
• Cumulative Financing: This is the third tranche; total proceeds raised to date are $1,170,352.53.
• Price Protection: Expires immediately after this closing.
• Use of Proceeds: Lithium exploration in northern Nevada and working capital.
• Regulatory Basis: Conducted under Ontario Securities Commission Rule 45-501 (2.9) and other prospectus exemptions (accredited investors, close personal friends/business associates).
• Record Date: November 21, 2025, for existing shareholder exemption.
• Hold Period: Securities are subject to a hold period of four months and one day from issuance.
• Outstanding Shares: 151,718,177 common shares issued and outstanding (including the second tranche).
• Project Update: Maiden drilling program on the 100%-owned North Elko lithium project was completed in November-December 2025; results expected toward the end of January 2026.

Notable Quotes

• No direct quotes from management were included in the provided text.