Search Minerals arranges $993,847 in private placements

Executive Summary

• Search Minerals Inc. announced two non‑brokered private placement financings for up to $993,847 in gross proceeds.
• The financing includes a charity flow‑through (FT) unit offering of up to 1,487,694 units at $0.50 per unit ($743,847 gross) and a hard‑dollar common share offering of up to 1,000,000 shares at $0.25 per share ($250,000 gross).
• Proceeds will be used for eligible Canadian exploration expenses on the Foxtrot and Deep Fox projects (FT proceeds) and for working capital/general corporate purposes (share proceeds).

Key Details

• Charity Flow‑Through Unit Offering
• Up to 1,487,694 units at $0.50 per FT unit
• Gross proceeds: up to $743,847
• Each unit = 1 flow‑through common share + ½ transferable non‑flow‑through common share purchase warrant

• Warrant terms: exercisable for one non‑flow‑through common share at $0.65, valid for 24 months from issuance

• Hard‑Dollar Common Share Offering

• Up to 1,000,000 common shares at $0.25 per share

• Gross proceeds: up to $250,000

• Use of Proceeds

• FT financing: eligible Canadian exploration expenses qualifying as flow‑through mining expenditures for the Foxtrot and Deep Fox projects; also intended to qualify for the critical mineral exploration tax credit.

• Share financing: working capital and general corporate purposes.

• Regulatory Conditions

• Subject to receipt of all required regulatory approvals, including acceptance by the TSX Venture Exchange. No assurance that financings will be completed in whole or in part.

• Holding Period

• FT shares, warrants, and common shares issuable upon warrant exercise are subject to a hold period of four months and one day from closing, per securities law requirements.

Notable Quotes

(No executive quotes were provided in the release.)