New Earth arranges minimum $350,000 private placement

Executive Summary

• New Earth Resources Corp. announces a non‑brokered private placement of up to 3 million LIFE units at C$0.175 per unit, targeting minimum gross proceeds of $350,000 and maximum of $525,000.
• Each LIFE unit consists of one Class A common share and one warrant exercisable at $0.25 per share after a 60‑day lock‑up, valid for 24 months.
• Proceeds will fund further exploration at the Lucky Boy uranium property, pay the remaining $80,000 on the SL rare‑earth option agreement in Quebec, and provide general working capital.

Key Details

• Offering Size: Minimum gross proceeds $350,000 (≥2 million units); maximum gross proceeds $525,000 (≤3 million units).
• Issue Price: C$0.175 per LIFE unit.
• Unit Composition: 1 Class A common share + 1 share purchase warrant.
• Warrant Terms: Exercise price C$0.25 per share; exercisable any time after 60 days from issuance until 24 months post‑issuance.
• Eligibility: Insiders may participate; offering limited to residents of all Canadian provinces except Quebec, under NI 45‑106 listed issuer financing exemption.
• Finder’s Fees: Up to 2 % of gross proceeds may be paid as finders’ fees.
• Use of Proceeds:
• Exploration activities on the Lucky Boy uranium property (Arizona, USA).
• Settlement of remaining $80,000 payment under the option agreement for the SL project (Strange Lake, Quebec) – a rare‑earth prospective area.
• General working capital.
• Regulatory Compliance: Offering made pursuant to NI 45‑106 Part 5A and Coordinated Blanket Order 45‑935; securities not subject to statutory hold period.
• Documentation: Offering document filed on the date of release, accessible via SEDAR+.

Notable Quotes

(No CEO/President quotes were provided in the release.)