Metalsource Mining Announces $7.5 Million Private Placement

Executive Summary

• Metalsource Mining Inc. announced a non‑brokered private placement of up to 10,050,000 units at $0.75 per unit, targeting gross proceeds of up to $7,537,500.
• Each unit consists of one common share and half of a transferable warrant; each full warrant allows the purchase of one additional common share at $1.00 for three years.
• The offering is subject to regulatory approvals and statutory hold periods under Canadian securities law.

Key Details

• Units Offered: Up to 10,050,000 units.
• Unit Price: $0.75 per unit.
• Gross Proceeds Target: Up to $7,537,500.
• Composition of Each Unit:
• 1 common share.
• ½ transferable common share purchase warrant.
• Warrant Terms: One whole warrant (comprised of two half‑warrants) entitles the holder to buy one additional common share at $1.00 per share, exercisable for three years from issuance.
• Placement Structure: Non‑brokered private placement with a single placee.
• Regulatory Conditions: Subject to receipt of all necessary approvals, including Canadian Securities Exchange approval, and statutory hold periods under Canadian securities law.

Notable Quotes

(No CEO/President quotes were included in the release.)