Earthwise Minerals closes $96,000 private placement

Executive Summary

• Earthwise Minerals Corp. has completed a non-brokered private placement financing, raising gross proceeds of $96,000.
• The company issued a total of 4.8 million units (4.05 million non-flow-through and 750,000 flow-through) at a price of $0.02 per unit.
• Proceeds are designated for general working capital (NFT portion) and Canadian exploration expenses at the Iron Range gold property (FT portion).

Key Details

• Gross Proceeds: $96,000.
• Unit Price: $0.02 per unit.
• Total Units Issued: 4,800,000 units.
  • Non-Flow-Through (NFT) Units: 4,050,000 units.
  • Flow-Through (FT) Units: 750,000 units.
• Warrant Terms (NFT): Each NFT unit includes one common share and one warrant. Warrants allow purchase of one common share at $0.05 exercise price for 24 months. Total NFT warrants issued: 4,050,000.
• Warrant Terms (FT): Each FT unit includes one common share and one-half warrant (each full FT warrant allows purchase of one common share at $0.05 exercise price for 24 months). Total FT warrants issued: 375,000.
• Use of Proceeds:
  • FT proceeds: To incur Canadian exploration expenses qualifying as flow-through mining expenditures at the Iron Range gold property in British Columbia.
  • NFT proceeds: For general working capital.
• Finder’s Fees: Cash fees of $520 paid to Ventum Financial Corp., plus issuance of 23,000 non-transferable finders' warrants (exercisable on same terms as unit warrants).
• Insider Subscription: CEO Mark Luchinski acquired 500,000 NFT units and 150,000 FT units. This was a related party transaction exempt from formal valuation and minority shareholder approval under MI 61-101.
• Hold Period: All securities have a hold period of four months and one day from issuance.
• Regulatory Note: No material change report was filed 21 days prior to closing because the insider subscription was finalized shortly before the offering completion.

Notable Quotes

• None provided in the text.