Slam Exploration arranges $1.17-million placement

Executive Summary

• Slam Exploration Ltd. has arranged a non-brokered private placement of up to 13 million units at $0.09 per unit, raising gross proceeds of up to $1.17 million.
• The offering consists of 12.5 million flow-through units (FT CMETC) and 500,000 non-flow-through units (NFT), with proceeds primarily designated for Canadian exploration expenses at the Goodwin project and general working capital.
• The transaction is subject to TSX Venture Exchange and regulatory approvals, with a statutory hold period of four months and one day for all issued securities.

Key Details

• Total Units: Up to 13,000,000 units.
• Price: $0.09 per unit.
• Gross Proceeds: Up to $1,170,000.
• Flow-Through Units (FT CMETC):
  • Quantity: Up to 12,500,000 units.
  • Purpose: Proceeds to incur eligible Canadian exploration expenses (CEE) at the Goodwin copper-nickel-cobalt project, qualifying for the 30% Critical Mineral Exploration Tax Credit.
  • Renunciation Date: Effective date no later than December 31, 2026.
• Non-Flow-Through Units (NFT):
  • Quantity: Up to 500,000 units.
  • Purpose: General working capital, corporate development, and other business objectives.
• Warrant Terms:
  • FT CMETC Units: Each comprises one flow-through common share and one-half of one common share purchase warrant (two half-warrants make one whole warrant).
  • NFT Units: Each comprises one common share and one warrant.
  • Exercise Price: $0.13 per common share.
  • Duration: Two years following the closing date, subject to acceleration in certain events.
  • Right: Each whole warrant entitles the holder to purchase one additional common share.
• Regulatory & Legal Conditions:
  • Subject to acceptance by the TSX Venture Exchange and other required regulatory approvals.
  • Statutory hold period: Four months and one day from closing.
  • Finders' fees may be payable per TSX Venture Exchange policies.
  • Insiders may participate; if so, it constitutes a related party transaction under MI 61-101, relying on exemptions for formal valuation and minority shareholder approval as the fair market value is not expected to exceed 25% of market capitalization.

Notable Quotes

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