Iconic Announces Equity Financing up to $2,550,000

Executive Summary

• Iconic Minerals Ltd. announced a private placement of up to 30 million units at $0.085 per unit, targeting gross proceeds of up to $2.55 million.
• Each unit consists of one common share and one‑half warrant; each whole warrant allows purchase of an additional common share at $0.17 for two years, with accelerated expiry provisions.
• Proceeds will fund drilling and advancement of the New Pass gold project in Nevada and provide general working capital.

Key Details

• Units Offered: Up to 30,000,000 units at $0.085 per unit.
• Gross Proceeds Target: Up to $2,550,000.
• Unit Composition: 1 common share + ½ share purchase warrant (full warrant = right to buy 1 additional common share).
• Warrant Terms: Exercise price $0.17 per share; exercisable for two years from issuance. If, over any 10 non‑consecutive trading days beginning four months after issuance, the unit price exceeds $0.34, Iconic may give written notice within 30 days to accelerate warrant expiry unless exercised.
• Use of Proceeds: Drilling and advancement of the New Pass gold property (Nevada) and general working capital.
• Finder’s Fees: May be paid in accordance with TSX‑V rules and policies.
• Qualified Person: Richard Kern, CPGeol (#11494), CEO, prepared/reviewed release per NI 43‑101 standards.
• New Pass Gold Property Summary:
• Inferred resource of 15,515,488 short tons (14,075,414 t) at 0.022 oz/ton AuEq (341,750 oz AuEq).
• Contains 282,986 oz gold @ 0.018 oz/ton and 3,139,054 short tons of silver @ 0.202 oz/ton.

Notable Quotes

No direct quotes were included in the release.