ProAm closes $75,000 first tranche of financing

Executive Summary

• ProAm Explorations Corp. closed the first tranche of its private placement, raising $75,000 in gross proceeds.
• The offering consisted of 1.5 million units at $0.05 per unit, each unit containing one common share and one transferable warrant exercisable at $0.06 for one year.
• CEO Jason Cubitt subscribed for 500,000 units ($25,000) through his wholly‑owned corporation, constituting a related‑party transaction that will be reported via a material change filing.

Key Details

• Gross proceeds: $75,000 from the first tranche of the private placement.
• Units issued: 1,500,000 units at $0.05 per unit.
• Unit composition: 1 common share + 1 transferable warrant per unit.
• Warrant terms: Exercise price $0.06; exercisable for one year from issuance date.
• Related‑party subscription: CEO Jason Cubitt, via his wholly owned corporation, purchased 500,000 units for up to $25,000.
• Regulatory hold: Securities subject to a hold period expiring January 17, 2026.
• Use of proceeds: General working capital and potential new acquisition/option opportunities.
• Compliance: Transaction qualifies for exemptions under sections 5.5(a) and 5.7(a) of MI 61‑101; company will file a material change report regarding the related‑party transaction.