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Financings

SLAM Increases Private Placement To $2,034,000

By The Northwire Desk — AI Analysis Feb 20, 2026 · 07:23 SXL · 0.085 SLAM Exploration Ltd.
SXL · Price

Executive Summary

  • SLAM Exploration Ltd. increased its previously announced non‑brokered private placement to 22,600,000 units at $0.09 per unit, targeting gross proceeds of up to $2,034,000.
  • The offering consists of 18,000,000 flow‑through CMETC units, 3,000,000 flow‑through units, and 1,600,000 non‑flow‑through units, each paired with common share purchase warrants (exercise price $0.13, two‑year term).
  • Proceeds will be allocated to eligible Canadian exploration expenses for the Goodwin copper‑nickel‑cobalt project, gold projects, and general working capital/corporate development activities.

Key Details

  • Units Offered: 22,600,000 total
  • FT CMETC Units: up to 18,000,000 @ $0.09 each (flow‑through critical mineral exploration expenses)
  • FT Units: up to 3,000,000 @ $0.09 each (flow‑through gold project expenses)

  • NFT Units: up to 1,600,000 @ $0.09 each (non‑flow‑through)

  • Unit Composition

  • FT CMETC & FT Units: 1 flow‑through common share + ½ warrant (two halves combine into one whole warrant).

  • NFT Units: 1 ordinary common share + 1 whole warrant.

  • Warrant Terms: Each whole warrant allows purchase of one additional common share at $0.13 per share, exercisable for 2 years after closing; may accelerate on certain events.

  • Use of Proceeds

  • FT CMETC Units: Fund eligible Canadian exploration expenses (critical mineral tax credit) on the Goodwin project.
  • FT Units: Fund eligible Canadian exploration expenses on gold projects (not eligible for critical‑mineral tax credit).

  • NFT Units & Warrant Exercises: General working capital, corporate development, and other management‑determined purposes.

  • Regulatory Conditions

  • Subject to TSX Venture Exchange acceptance and all required approvals.
  • Statutory hold period of four months + one day on all securities issued.

  • Finder’s fees may be payable per TSXV policies.

  • Related Party Participation

  • Insiders may participate; transaction qualifies as a “related party transaction” under MI 61‑101.

  • Company expects to rely on exemptions allowing issuance without formal valuation/minority approval, provided fair market value does not exceed 25 % of market cap.

  • Tax & Renunciation

  • FT CMETC and FT Units will be renounced to subscribers by Dec 31 2026 (or later if permitted).

Notable Quotes

(No direct quotes included in the release.)

Read the original news release →

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