Mink Ventures Closes Private Placement
TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) ('Mink' or the "Company") announces it has closed the second and final tranche of its non-brokered private placement (the 'Offering') announced on March 13, 2025. The Company has raised gross proceeds from both tranches of $256,750. In the second tranche, the Company raised gross proceeds of $66,750 from the issuance of 667,000 hard dollar units (the "HD Units") at a price of $0.10 per HD Unit.
Each HD Unit consists of one common share of the Company (a 'Common Share') and one Common Share purchase warrant ('HD Warrant'). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on September 24, 2025. The Private Placement is subject to the final approval of the TSX Venture Exchange.
The Company paid aggregate finder's fees totaling $1,750 in cash and 17,500 in non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20. All of the finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies
The Company plans to use the net proceeds raised from the sale of the HD Units and FT Units under the Offering for the exploration and advancement of the Company's Montcalm nickel copper cobalt project, the Warren copper nickel project and, in respect of the HD Unit proceeds, for general working capital purposes.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink's Montcalm Project covers 100 km2 adjacent to Glencore's former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its Warren Ni Cu Co Project, which covers 1,130 hectares, is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance from this tranche of the Private Placement, the Company has 25,678,888 Common Shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca.
Forward Looking Statements This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, but not limited to, statements with respect to the TSXV final approval of the Offering, the proposed use of proceeds, the exploration potential of the Company's mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink's filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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