Slam Exploration increases financing to $2.03-million

Executive Summary

• Slam Exploration Ltd. has increased the size of its non-brokered private placement to gross proceeds of up to $2,034,000 due to increased investor demand.
• The offering consists of up to 22.6 million units priced at $0.09 per unit, comprising flow-through CMETC units, flow-through units, and non-flow-through units.
• Proceeds are designated for Canadian exploration expenses on the Goodwin copper-nickel-cobalt project (via flow-through CMETC units), gold projects (via flow-through units), and general working capital/corporate development (via non-flow-through units and warrant exercises).

Key Details

• Total Gross Proceeds: Up to $2,034,000.
• Unit Price: $0.09 per unit.
• Total Units Issued: Up to 22.6 million units.
• Breakdown of Units:
  • Up to 18 million flow-through CMETC units (intended for critical mineral exploration tax credit eligibility).
  • Up to 3 million flow-through units (for general Canadian exploration expenses, not qualifying for critical mineral tax credit).
  • Up to 1.6 million non-flow-through units.
• Warrant Terms:
  • Flow-through CMETC and Flow-through units include one-half of one common share purchase warrant (two half-warrants make one whole warrant).
  • Non-flow-through units include one whole warrant.
  • Exercise Price: $0.13 per common share.
  • Term: Two years following the closing date, subject to acceleration.
• Use of Proceeds:
  • Flow-through CMETC Units: To incur eligible Canadian exploration expenses (CEE) qualifying as flow-through critical mineral mining expenditures on the Goodwin project.
  • Flow-through Units: To incur eligible CEE on gold projects.
  • Non-flow-through Units & Warrant Exercises: General working capital, corporate development activities, and other business objectives.
• Renunciation Date: Qualifying CEE will be renounced to subscribers with an effective date no later than December 31, 2026.
• Regulatory Status: Subject to TSX Venture Exchange acceptance and other regulatory approvals.
• Hold Period: Four months and one day from the closing date.
• Insider Participation: Insiders may participate; expected to rely on exemptions from formal valuation and minority shareholder approval under MI 61-101 as the fair market value of securities issued to related parties is not expected to exceed 25% of market capitalization.
• Finder’s Fees: May be payable in accordance with TSX-V policies.

Notable Quotes

• None provided in the text.