EDM Announces Non-Brokered Private Placement of C$1,000,000

Executive Summary

• EDM Resources announced a non‑brokered private placement of 9,090,909 units at C$0.11 per unit, targeting gross proceeds of C$1,000,000.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.14 for up to 36 months (accelerable under certain price conditions).
• Proceeds will be used to advance the Scotia Mine toward a production decision and for general working capital.

Key Details

• Units Offered: 9,090,909 units @ C$0.11 per unit → Gross proceeds: C$1,000,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price C$0.14).
• Warrant Terms: exercisable for 36 months; may be accelerated to a 30‑day expiry if the common share trades ≥ $0.30 VWAP for 10 consecutive days.
• Holding Period: All shares and warrants subject to a four‑month plus one‑day hold period from closing.
• Use of Proceeds: Advance Scotia Mine toward a production decision; general working capital.
• Related Party Participation: Certain directors, officers, and insiders will acquire securities; transaction qualifies as an exempt related‑party transaction under MI 61‑101.
• Regulatory Conditions: Offering subject to TSX Venture Exchange approval; complies with Canadian securities laws.
• U.S. Disclaimer: Not an offer or solicitation in the United States; securities not registered under U.S. law.

Notable Quotes

(No executive quotes were included in the release.)