Showcase closes purchase of seven claims for shares

Executive Summary

• Showcase Minerals Inc. has completed the acquisition of a 100% interest in the Grassy and Premier East gold projects, consisting of seven mineral claims (1,535.10 hectares) located north of Stewart, B.C., in the Golden Triangle region.
• The company simultaneously closed a private placement financing raising $210,000 in gross proceeds through the issuance of three million units.
• The acquisition consideration consisted of five million common shares, while the financing proceeds are designated for debt payment and general working capital.

Key Details

• Acquisition Details:
  • Target: Grassy and Premier East gold projects (seven mineral claims, 1,535.10 hectares).
  • Location: North of Stewart, B.C., east of the Premier gold mine (Golden Triangle region).
  • Interest Acquired: 100%.
  • Consideration: Issuance of 5,000,000 common shares to the vendor.
  • Hold Period: Common shares are subject to a four-month-and-one-day hold period from issuance.
  • History: The Premier gold mine produced over two million ounces of gold from 1918 to 1952.
• Financing Details:
  • Type: Private placement.
  • Units Issued: 3,000,000 units.
  • Price: $0.07 per unit.
  • Gross Proceeds: $210,000.
  • Use of Proceeds: Debt payment and general working capital.
  • Hold Period: Securities subject to a four-month-and-one-day hold period under Canadian securities laws.
• Warrant Terms (Financing):
  • Each unit includes one common share and one three-year transferable share purchase warrant.
  • Exercise Price: $0.10 per common share.
• Finder’s Fee:
  • Recipient: Research Capital Corp.
  • Cash Fee: $10,080.
  • Equity Component: 144,000 share purchase warrants.
  • Warrant Terms: Entitles holder to acquire common shares for $0.10 per share for a period of three years.