Earthwise arranges $500,000 private placement

Executive Summary

• Earthwise Minerals Corp. announced a non-brokered private placement financing of up to 10 million units for gross proceeds of up to $500,000.
• The offering consists of two types of units: Flow-Through Units (FT units) and Non-Flow-Through Units (NFT units), both priced at $0.05 per unit.
• Proceeds will be allocated to Canadian exploration expenses for the Iron Range gold property (FT units) and general working capital (NFT units).

Key Details

• Total Offering Size: Up to 10 million units.
• Gross Proceeds: Up to $500,000.
• Unit Price: $0.05 per unit for both FT and NFT units.
• Non-Flow-Through Units (NFTs):
  • Composition: One common share and one common share purchase warrant.
  • Warrant Terms: Entitles holder to purchase one common share at an exercise price of $0.08.
  • Warrant Duration: 24 months from the date of issuance.
  • Use of Proceeds: General working capital.
• Flow-Through Units (FTs):
  • Composition: One common share and one-half of one common share purchase warrant.
  • Tax Status: Intended to qualify as flow-through shares under the Income Tax Act (Canada); proceeds to be used for Canadian exploration expenses intended to qualify as flow-through mining expenditures, which the company intends to renounce to purchasers.
  • Use of Proceeds: Advancing exploration activities and unlocking value at the Iron Range gold property in British Columbia.
• Closing Conditions: Subject to customary conditions, including regulatory approvals.
• Restrictions: All securities issued are subject to a statutory hold period of four months and one day from the closing date.
• Fees: Finders' fees may be paid in connection with the offering.