Sokoman Minerals Corp. (TSXV:SIC.V)(OTCQB:SICNF) has successfully closed the first tranche of its flow-through private placement, raising CAD$2.46 million. The company issued 37,885,000 flow-through share units at CAD$0.065 each, comprising one common share and a half warrant, with full warrants allowing purchase of additional shares at CAD$0.13 for 12 months.
The proceeds will fund exploration on Sokoman’s Newfoundland properties, with a focus on the Moosehead and Fleur de Lys projects. An insider participated in the tranche, subscribing for 100,000 units, deemed a related party transaction under MI 61-101, with the company utilizing applicable exemptions.
Securities from this financing are subject to a four-month hold period, expiring March 30, 2024. Finder’s fees were paid in accordance with TSX Venture Exchange policies. The raised funds are earmarked for Canadian Exploration Expenses, with 25% allocated to the Fleur de Lys Project and the remainder to the Moosehead Project.
Sokoman Minerals, a discovery-focused entity, holds significant land in Newfoundland and has strategic alliances for gold exploration. The company also retains interests in lithium, antimony/gold, and iron projects, with ongoing support from the Newfoundland and Labrador government.
This release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
Company Website: https://www.sokomanmineralscorp.com
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