Heritage Mining Announces Non-Brokered Private Placement of Flow-Through Shares and Units

Executive Summary

• Heritage Mining Ltd. announced a non‑brokered private placement of up to $1,150,000 in flow‑through shares and units.
• The offering consists of up to 18,750,000 FT Shares at $0.04 each ($750,000) and up to 10,000,000 Units at $0.04 each ($400,000), with closing expected on or before March 31, 2026.
• Proceeds will fund eligible Canadian exploration expenses for the Company’s Ontario projects (Melba and Drayton‑Black Lake) and include finder fees and compensation unit warrants.

Key Details

• Securities Offered
• FT Shares: Up to 18,750,000 shares @ $0.04 per share → max gross proceeds $750,000.
• Units: Up to 10,000,000 units @ $0.04 per unit → max gross proceeds $400,000.
  Each Unit = 1 common share + 1 common‑share purchase warrant (exercise price $0.05, expires 60 months after closing).
• Use of Proceeds
• To incur eligible “Canadian exploration expenses” qualifying as flow‑through critical mineral mining expenditures for Ontario projects.
• Targeted spend on follow‑on exploration at Melba and Drayton‑Black Lake properties, leveraging recent exploration successes.
• Closing Timeline
• Expected closing on or before March 31, 2026; securities subject to a four‑month hold period under applicable securities laws.
• Finder’s Fees & Compensation Warrants
• Cash finder fee of 7% of gross proceeds plus compensation unit warrants equal to 7% of gross proceeds for FT Shares and Units (each warrant grants one common share + one warrant at $0.05 exercise, exercisable for 60 months post‑closing).
• Additional cash finder fee of 1.0% on the number of Units or FT Shares issued under a President’s list.
• Lead Orders
• Secured lead orders totaling C$460,000 from insiders, institutions, advisors, consultants, and existing shareholders.
• Quote

  “Heritage Mining Ltd. has secured lead orders totaling C$460,000 from insiders, institutions, advisors, consultants, and existing shareholders. We are grateful for the continued support of existing stakeholders and look forward to closing the financing later this month.” – Peter Schloo, President, CEO & Director.