Peloton Minerals closes $133,502 second tranche

Executive Summary

• Peloton Minerals Corp. has closed the second tranche of its non-brokered private placement, bringing total proceeds to $1,036,252.53, which exceeds the originally planned amount of $630,000.
• The financing was priced at $0.09 per unit, with each unit comprising one common share and one common share purchase warrant exercisable at $0.12 for three years.
• Proceeds will be utilized for lithium exploration at the North Elko lithium project (NELP) in northern Nevada and for general working capital.

Key Details

• Total Financing Amount: $1,036,252.53 (oversubscribed from the original $630,000 target).
• Second Tranche Proceeds: $133,502.76.
• Price Per Unit: $0.09.
• Warrant Terms: Each unit includes one common share purchase warrant exercisable at $0.12 per share for a period of three years.
• Use of Proceeds: Lithium exploration at the North Elko lithium project (NELP) in northeastern Nevada and working capital.
• Upcoming Operations: Drilling is scheduled to begin at the NELP in northeastern Nevada in the current month, with further announcements to follow after drilling commences.
• Regulatory Basis: The offering relied on prospectus exemptions, including the existing shareholder exemption under OSC Rule 45-501 (2.9) and exemptions for accredited investors and close personal friends/business associates of directors and officers.
• Record Date: August 15, 2025, for determining existing shareholders entitled to purchase shares.
• Hold Period: Securities are subject to a hold period of four months and one day from issuance.
• Share Count: 150,228,177 common shares issued and outstanding, inclusive of the second tranche.

Notable Quotes

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