St-Georges closes $321,302 first tranche of placement

Executive Summary

• St-Georges Eco-Mining Corp. closed the first tranche of a non-brokered private placement, raising gross proceeds of $321,302.
• The offering consisted of 6,426,040 units priced at $0.05 per unit, subscribed by seven investors from Canada, Iceland, Australia, and Germany.
• Proceeds were utilized to maintain assets and infrastructure in Iceland, fund operational expenditures at the battery processing subsidiary, and satisfy outstanding accounts payable, including those owed to related parties.

Key Details

• Transaction Structure: Non-brokered private placement, first tranche closed.
• Units Issued: 6,426,040 units.
• Price: $0.05 per unit.
• Gross Proceeds: $321,302.
• Warrant Terms: Each unit includes one common share and one-half common share purchase warrant. Each whole warrant allows the acquisition of one additional common share at $0.075 per share.
• Warrant Expiry: 24 months from the closing date, subject to an acceleration provision.
• Investor Base: Seven investors residing in Canada, Iceland, Australia, and Germany.
• Hold Period: Securities are subject to a statutory hold period of four months and one day from issuance.
• Use of Proceeds:
  • Maintenance of assets and infrastructure in Iceland (sample/core storage, license renewals, contractual commitments).
  • Operational expenditures at the battery processing subsidiary.
  • Satisfaction of obligations for maintaining assets and operations.
  • General corporate and administrative purposes.
  • Satisfaction of outstanding accounts payable to existing trade creditors (including related parties).
• Related-Party Transaction: An officer of a subsidiary purchased 1,000,000 units. This transaction relies on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the consideration does not exceed 25% of the company's market capitalization.