Electrum Discovery closes $1.6-million financing

Executive Summary

• Electrum Discovery Corp. closed an oversubscribed, non‑brokered private placement raising $1,608,077 in gross proceeds.
• The financing consisted of 22,972,527 units sold at $0.07 per unit, each unit including one common share and one common share purchase warrant (exercise price $0.15, two‑year term).
• Proceeds will fund infill and expansion drilling at Novo Tlamino, accelerate drill targeting at Timok East, and provide working capital/general corporate purposes.

Key Details

• Units Issued: 22,972,527 units @ $0.07 per unit → $1,608,077 gross proceeds.
• Unit Composition: 1 common share + 1 warrant (right to purchase one additional common share at $0.15 for two years).
• Finder’s Fees: $12,246 cash plus 365,004 finder warrants paid in connection with the placement.
• Hold Period: All securities subject to a four‑month hold period expiring Feb 3 2026 under Canadian securities laws (and any other applicable jurisdictions).
• TSX Venture Exchange: Placement remains pending final approval of the TSX Venture Exchange.
• Use of Proceeds:
• Continue infill and expansion drilling at the Novo Tlamino gold‑silver project (Serbia).
• Accelerate drill targeting at the Timok East copper‑gold project (Serbia).
• Working capital and general corporate purposes.

Notable Quotes

“We greatly appreciate the steadfast support of our shareholders, in particular Crescat Capital… With closing of this financing, Electrum is now well positioned to unlock value from both our gold and copper assets…” – Dr. Elena Clarici, President & CEO.