Venerable Ventures increases financing to $40-million

Executive Summary

• Venerable Ventures Ltd. has upsize its brokered private placement offering to aggregate gross proceeds of approximately $40 million due to strong market demand.
• The offering consists of non-flow-through, flow-through, and charity flow-through subscription receipts priced between 56 and 84 cents per unit.
• Proceeds will fund exploration of the Minto copper-gold mine in Yukon and incur eligible Canadian exploration expenses, in connection with a proposed transaction with an affiliate of the Selkirk First Nation.

Key Details

• Offering Size: Upsized to aggregate gross proceeds of approximately $40 million.
• Agents: Canaccord Genuity Corp. (lead agent and sole bookrunner), Haywood Securities Inc., Raymond James Ltd., and Research Capital Corp.
• Security Types and Pricing:
  • Non-flow-through subscription receipts of CompanySubco: 56 cents per receipt.
  • Flow-through subscription receipts of the company: 60 cents per receipt.
  • Charity flow-through subscription receipts of the company: 84 cents per receipt.
• Use of Proceeds:
  • Net proceeds from non-flow-through receipts: Exploration of the Minto copper-gold mine in Yukon and general and administrative purposes.
  • Proceeds from flow-through and charity flow-through receipts: To incur eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada) upon issuance of underlying common shares.
• Closing: Targeted for September 25, 2025, or as soon as possible following successful marketing.
• Strategic Context: The offering is conducted in connection with a proposed transaction with an affiliate of the Selkirk First Nation to launch a new venture holding a 100% interest in the project.
• Asset Details: The Minto mine is an idled, past-producing open-pit and underground copper-gold-silver mine in central Yukon, owned indirectly by Selkirk First Nation via 843093 Yukon Inc. Infrastructure includes a 4,100-tonne-per-day processing plant and a 400-person camp.

Notable Quotes

• None provided in the text.