Fredonia Mining Inc. Announces Completion of Early Warrant Exercise Incentive Program

Executive Summary

• Fredonia Mining received approximately $473,000 in gross proceeds from the early exercise of 1,576,666 $0.30 share purchase warrants.
• As an incentive, each exercised warrant granted the holder a new Incentive Warrant to purchase one additional common share at $0.60 within 24 months; 1,576,666 Incentive Warrants were issued.
• The program involved related‑party participation limited to 10% of outstanding $0.30 warrants and complied with MI 61‑101 exemptions.

Key Details

• Gross proceeds: ~$473,000 from exercise of 1,576,666 $0.30 warrants at an exercise price of $0.30 per share.
• Incentive Warrants issued: 1,576,666 new warrants, each allowing purchase of one common share at $0.60 per share, exercisable for 24 months from issuance; subject to statutory hold expiring May 28 2026.
• Outstanding $0.30 warrants: 5,090,001 remain unexercised, with an expiry date of September 25 2027.
• Related‑party participation:
• CEO Estanislao Auriemma exercised 47,778 warrants.
• Directors Ricardo Auriemma and Waldo Perez each exercised 47,778 and 47,777 warrants respectively.
• Total insider participation = 10% of outstanding $0.30 warrants.
• Regulatory compliance: Program relied on MI 61‑101 exemptions (Section 5.5(b) – Issuer Not Listed on Specified Markets; Section 5.7(a) – Fair Market Value ≤ 25% of market cap).
• Use of proceeds: Refer to the Amended and Restated Listed Issuer Financing Offering Document dated January 26 2026 (available on SEDAR+ and company website).

Notable Quotes

(No direct quotes were provided in the release.)