Mink Ventures raises $857,518 in non-brokered private placement

Mink Ventures Corporation (TSXV: MINK) completed the second and final tranche of its non-brokered private placement, raising aggregate gross proceeds of $857,518 from both tranches, according to a company statement.

In the final tranche, the Toronto-based mineral exploration company raised $126,000 from issuing 960,000 hard dollar units at $0.10 per unit and $30,000 from issuing 235,770 flow-through units at $0.13 per unit.

Each hard dollar unit consists of one common share and one warrant exercisable at $0.20 for 36 months. Each flow-through unit includes one common share and one warrant with the same exercise terms.

The company paid $7,680 in finder's fees and issued 76,800 non-transferable finder's warrants exercisable at $0.20 until October 30, 2028. Securities from the final tranche are subject to a hold period expiring March 1, 2026.

Mink plans to use proceeds from hard dollar units for exploration of its Montcalm nickel-copper-cobalt project and Warren copper-nickel project, plus general working capital. Flow-through unit proceeds will fund exploration activities.

The company's Montcalm Project covers 100 square kilometers adjacent to Glencore's former Montcalm Mine in the Timmins, Ontario area. The Warren project covers 1,130 hectares and is located 35 kilometers away. Following this tranche, Mink has 33,606,719 common shares outstanding.

The offering requires final approval from the TSX Venture Exchange.

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