Bonanza arranges private placements totalling $1.23M

Executive Summary

• Bonanza Mining Corp. announced two private placement offerings to raise up to $1,235,000 in total capital.
• The first offering consists of up to 11 million units at C$0.025 per unit, each unit containing one common share and a warrant to purchase an additional share at C$0.05 for two years.
• The second offering consists of up to 32 million flow‑through units at C$0.03 per unit, each unit containing one flow‑through common share and a warrant to purchase an additional share at C$0.07 for two years.

Key Details

• Unit Private Placement
• Maximum raise: C$275,000
• Units offered: up to 11 million
• Price per unit: C$0.025
• Composition: 1 common share + 1 warrant (exercise price C$0.05, two‑year term)
• Flow‑Through Unit Private Placement
• Maximum raise: C$960,000
• Units offered: up to 32 million
• Price per unit: C$0.03
• Composition: 1 flow‑through common share + 1 warrant (exercise price C$0.07, two‑year term)
• Regulatory Framework
• Offerings made under B.C. Instrument 45‑536 and comparable exemptions in other Canadian jurisdictions.
• Non‑brokered; finders’ fees may be paid per TSX Venture Exchange policies.
• Subject to completion of formal documentation, regulatory approvals, and exchange acceptance.
• Insider Participation
• Insiders may participate; details will be disclosed when the placements close.
• Treated as a related‑party transaction under TSX Venture Exchange Policy 5.9 and MI 61‑101.
• Exemptions from formal valuation and minority shareholder approval invoked (fair market value ≤ 25 % of market cap).
• Use of Proceeds
• Unit placement: General working capital, including ~C$150,000 payments to non‑arm’s‑length parties for prior professional and administrative services; no investor‑relations fees.
• Flow‑through placement: Funding further exploration at the MC property in the Skeena mining district, BC.
• Holding Periods
• All securities subject to a four‑month‑and‑one‑day hold period under Canadian securities law plus applicable exchange hold periods and any other jurisdictional restrictions.

Notable Quotes

(No executive quotes were provided in the release.)