An anonymous director reports
GERMANIUM MINING ANNOUNCES UP TO $1.35M NON-BROKERED PRIVATE PLACEMENT
Germanium Mining Corp.
has arranged a non-brokered private placement for aggregate gross proceeds of up to $1.35-million consisting of the issuance of: (i) up to 3,125,000 units at 24 cents per unit; and (ii) up to 1,875,000 common shares in the share capital of the company on a flow-through basis at 32 cents per FT share, within the meaning of the
Income Tax Act
(Canada).
Each unit will be composed of one common shares in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of 24 months from the issue date at an exercise price of 32 cents per warrant share.
The proceeds from the sale of the FT shares will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the
Income Tax Act
(Canada) related to the company's projects in Quebec. All qualifying expenditures will be renounced in favour of the subscribers of the FT shares, effective Dec. 31, 2026.
The company intends to use the net proceeds from the units for general corporate and working capital purposes.
The units and FT shares will be issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issuable pursuant to the offering are subject to resale restrictions, including a hold period of four months and one day from the date of issuance.
The company may pay a finder's fee to arm's-length parties on the offering in accordance with the policies of the exchange. The closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
About Germanium Mining Corp.
Germanium is a publicly traded mineral exploration company focused on the exploration and advancement of discovery-stage mineral properties in top-tier mining jurisdictions across North America. Germanium is a member of the Nevada Mining Association.
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