Clarity Metals closes first tranche of financing

Executive Summary

• Clarity Metals Corp. closed the first tranche of its non‑brokered private placement, raising $1,099,710.03 in gross proceeds.
• Issued 1,234,000 non‑flow‑through units at $0.075 per unit and 11,190,667 flow‑through units at $0.09 per unit, each accompanied by half‑share purchase warrants exercisable at $0.12 for three years.
• Proceeds will be allocated to exploration of the Fecteau gold project in Quebec, marketing activities, and general working capital; flow‑through proceeds are earmarked for Canadian‑qualified mineral exploration expenses with required renunciation.

Key Details

• Units Issued – Non‑Flow‑Through: 1,234,000 units @ $0.075 = $92,550 gross proceeds.
• Units Issued – Flow‑Through: 11,190,667 units @ $0.09 = $1,007,160.03 gross proceeds.
• Warrant Structure: Each unit (both types) includes one‑half of a transferable share purchase warrant; exercise price $0.12 per share, exercisable for three years from closing.
• Use of Proceeds:
• Exploration of the Fecteau gold project (Quebec).
• Marketing and general working capital.
• Flow‑Through Tax Treatment: Gross proceeds will be used for Canadian exploration expenses as defined in Subsection 66.1(6) and flow‑through critical mineral mining expenditures per Subsection 127(9); amounts will be renounced to purchasers by Dec 31, 2025 in an aggregate amount not less than the gross proceeds from flow‑through units.
• Finder Compensation: Paid cash finder fees of $84,772.80 and issued 951,252 finder warrants (one share per warrant at $0.12 exercise price, three‑year term).
• Statutory Hold Period: All securities subject to a hold period expiring four months and one day after closing.

Notable Quotes

(No executive quotes were provided in the release.)