SLAM Raises $2,072,750 From Oversubscribed Private Placement

Executive Summary

• SLAM Exploration Ltd. closed its non‑brokered private placement, upsizing to 23,030,553 units at $0.09 per unit for up to $2,072,750 in gross proceeds.
• The offering comprised flow‑through CMETC units, standard flow‑through units, and non‑flow‑through units, each paired with common share purchase warrants exercisable at $0.13 for two years.
• Proceeds are earmarked for eligible Canadian exploration expenses on the Goodwin copper‑nickel‑cobalt project, gold projects in New Brunswick, and general working capital/corporate development.

Key Details

• Units Issued: 23,030,553 total
• 18,141,664 FT CMETC units (flow‑through critical mineral exploration)
• 3,000,000 FT units (standard flow‑through)
• 1,888,889 NFT units (non‑flow‑through)
• Pricing: $0.09 per unit → gross proceeds up to $2,072,750.
• Unit Composition:
• Each FT CMETC and FT unit = 1 flow‑through common share + ½ warrant (two halves combine into one whole warrant).
• Each NFT unit = 1 common share + 1 whole warrant.
• Warrant Terms: Exercise price $0.13 per common share; exercisable for two years post‑closing, with acceleration provisions.
• Use of Proceeds:
• FT CMETC proceeds → eligible Canadian exploration expenses on the Goodwin project (expected to qualify for the 30 % Critical Mineral Exploration Tax Credit).
• FT proceeds → eligible CEE on gold projects (not expected to qualify for the critical‑mineral tax credit).
• NFT proceeds & warrant exercise proceeds → general working capital, corporate development, and other business objectives.
• Regulatory Conditions: Subject to final TSX Venture Exchange approval; statutory hold period of four months + one day expires July 12 2026.
• Finder Warrants: 420,000 issued; $37,800 cash paid in connection with the offering.
• Insider Participation: One insider purchased 2,222,222 FT CMETC units for $199,999.87 (related‑party transaction exempted under MI 61‑101).
• Additional Funding Plans: Proceeds from FT units to fund exploration of gold, zinc, copper, and nickel projects in New Brunswick.

Notable Quotes

(No direct quotes included in the release.)