Electrum Discovery Closes Over Subscribed Private Placement

Executive Summary

• Electrum Discovery Corp. closed an oversubscribed, non‑brokered private placement raising $1,608,077 in gross proceeds.
• The offering consisted of 22,972,527 units at $0.07 per unit, each unit containing one common share and one 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 common share purchase warrant.
• Warrant Terms: Exercise price $0.15 per share; exercisable for two years from issuance.
• Finder’s Compensation: Cash fee of $12,246 plus 365,004 finder’s warrants.
• Holding Period: Four‑month lock‑up expiring February 3, 2026, subject to Canadian securities law and any additional jurisdictional restrictions.
• Regulatory Condition: Private placement remains subject to final approval by 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 which provided a cornerstone investment. With closing of this financing, Electrum is now well positioned to unlock value from both our gold and copper assets… The proceeds from the financing will enable start of infill and expansion drilling at Novo Tlamino, while accelerating drill targeting at Timok East.” – Dr. Elena Clarici, President & CEO

Materiality Assessment: Material – Positive (significant financing that enables key exploration activities).