Sankamap Announces $5.0M Private Placement

Executive Summary

• Sankamap Metals Inc. announced a non‑brokered private placement of up to 14,285,715 units at $0.35 per unit, targeting gross proceeds of up to $5 million.
• Each unit consists of one common share and half of a common‑share purchase warrant; the warrants allow purchase of additional shares at $0.55 for 24 months.
• Proceeds will be used to advance exploration and development of the Kuma and Fauro properties (including acquisition of a drilling rig) and for general working capital.

Key Details

• Units offered: up to 14,285,715 units @ $0.35 per unit.
• Gross proceeds target: $5 million.
• Unit composition: 1 common share + ½ of a common‑share purchase warrant.
• Warrant terms (attached to each unit): right to buy one additional common share at $0.55 per share, exercisable for 24 months from issuance.
• Finder’s fees: up to 6 % of gross proceeds payable in cash and/or Finder’s Warrants (exercise price $0.35, 24‑month term).
• Use of proceeds:
• Acquisition of a drilling rig for simultaneous drilling at the Kuma and Fauro properties.
• Advancement of exploration and development activities on both properties.
• General working capital.
• Closing conditions: subject to CSE approval; securities subject to a four‑month + one‑day hold period.

Notable Quotes

“The financing will provide the necessary capital to accelerate our exploration program, including the acquisition of a drilling rig that will enable simultaneous drilling at Kuma and Fauro, positioning us for rapid advancement of our flagship Oceania Project.” – John Florek, CEO

Materiality Assessment: Material – Positive (significant financing expected to fund key exploration activities).