ProAm closes $75,000 first tranche of financing

Mr. Jason Cubitt reports ProAm Explorations Corp., further to its news releases dated Sept. 2, 2025, has closed a first tranche of its private placement, raising gross proceeds of $75,000 through the issuance of 1.5 million units at a price of five cents per unit. Each unit consists of one share and one transferable share purchase warrant, with each warrant being exercisable at a price of six cents for period of one year from the date of issuance. Jason Cubitt, chief executive officer and a director of the corporation, through his wholly owned corporation, subscribed for 500,000 units for gross proceeds of up to $25,000. The issuance of units to Mr. Cubitt's company is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. The company will file a material change report in respect of the related party transactions in connection with the private placement. The securities issued pursuant to the private placement will be subject to a regulatory hold period expiring on Jan. 17, 2026. The funds will be used for general working capital purposes and potential new acquisition/option opportunities.