Peloton Closes Private Placement

Executive Summary

• Peloton Minerals closed a third tranche of its non‑brokered private placement, raising $134,100 from the issuance of 1,490,000 units at CDN $0.09 per unit.
• The financing includes common shares and warrants (one share purchase warrant exercisable for three years at $0.12) plus broker warrants equal to ten percent of the units issued, exercisable at the offering price for sixty months.
• Proceeds are earmarked for lithium exploration in northern Nevada (North Elko Lithium Project) and general working capital.

Key Details

• Units sold: 1,490,000 units @ CDN $0.09 per unit → total gross proceeds of $134,100.00 CAD.
• Unit composition: each unit = one common share + one common share purchase warrant (exercisable for three years at $0.12).
• Broker warrants: 10% of the units issued as broker warrants, exercisable into a unit of the offering at the offering price for sixty months.
• Fees: placement fees equal to 8% of funds raised.
• Total financing to date: this third tranche brings cumulative proceeds under the same pricing terms to $1,170,352.53 CAD.
• Price protection: expires immediately after closing of this tranche.
• Use of proceeds: lithium exploration in northern Nevada (North Elko Lithium Project) and working capital.
• Exploration update: maiden drilling program at North Elko completed Nov‑Dec 2025; results expected end of Jan 2026.
• Regulatory exemptions: reliance on Existing Shareholder Exemption under OSC Rule 45‑501 (2.9) and other prospectus exemptions; record date set for Nov 21, 2025.
• Hold period: securities subject to a hold period expiring four months and one day from issuance.
• Share count: 151,718,177 common shares issued and outstanding after this placement.

Notable Quotes

(No direct quotes included in the release.)