Central Iron Ore Announces Closing of Upsized Private Placement

Executive Summary

• Central Iron Ore Ltd. closed an upsized private placement, issuing 4,416,652 units at $0.072 per unit for total gross proceeds of $317,998.94.
• Each unit consists of one ordinary share and one warrant to purchase an additional ordinary share at $0.12 up to October 15 2030.
• Proceeds will be allocated to the South Darlot joint‑venture contribution, drilling at the British King Mine area, and general corporate working capital.

Key Details

• Units Issued: 4,416,652
• Unit Price: $0.072 per unit
• Gross Proceeds: $317,998.94
• Composition of Each Unit:
• 1 ordinary share of Central Iron Ore Ltd.
• 1 warrant to purchase 1 ordinary share at $0.12 per share (exercisable until 15 Oct 2030)
• Use of Proceeds:
• Contribution to the Company’s South Darlot joint‑venture
• Drilling program at the British King Mine Area
• Corporate and general working capital purposes
• Holding Period: Securities subject to a four‑month plus one day hold period from issuance; resale governed by applicable securities legislation.
• Regulatory Notices:
• Not an offer or solicitation in the United States; securities not registered under the U.S. Securities Act.
• Disclaimer that TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the release’s accuracy.

Notable Quotes

(No executive quotes were provided in the release.)