HM Exploration closes $998,979 private placement

Executive Summary

• HM Exploration Corp. closed a non‑brokered private placement, issuing 9,081,635 units at CAD 0.11 per unit for total gross proceeds of CAD 998,979.85.
• Proceeds will be used to fund exploration activities on existing properties and for general working capital.
• The transaction involved related‑party participation by CEO/director Nicholas Rodrow, who purchased 281,001 units for CAD 30,910.11; the offering complied with MI 61‑101 exemptions.

Key Details

• Units Issued: 9,081,635 units (each unit = 1 common share + ½ transferable common share purchase warrant).
• Price per Unit: CAD 0.11.
• Gross Proceeds: CAD 998,979.85.
• Warrant Terms: Each warrant allows the holder to acquire one additional common share at an exercise price of CAD 0.16, exercisable for 36 months from the closing date.
• Use of Proceeds: Exploration on company properties (Devil’s Den project and Pilley’s Island option) and general working capital.
• Related‑Party Transaction: CEO Nicholas Rodrow subscribed for 281,001 units, paying CAD 30,910.11; transaction qualified for MI 61‑101 exemptions because the fair market value did not exceed 25 % of market capitalization.
• Regulatory Compliance: No material change report filed as insider participation was undetermined at the time of filing; all securities subject to a statutory hold period of four months and one day.

Notable Quotes

(No direct quotes were provided in the release.)