Business
Belo Sun Announces Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Belo Sun Mining Corp.
[{"type":"text","content":"Belo Sun Announces Private Placement Financing\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. (“Belo Sun” or “Company”) (TSX: BSX) is pleased to announce a non-brokered private placement financing at a price of C$0.43 per Belo Sun common share (“Common Shares”) for gross proceeds to the Company of up to US$30 million (C$41,343,000) (the “Private Placement”). Closing of the Offering remains subject to certain conditions, including the final approval of the Toronto Stock Exchange. La Mancha Investments S. à r. l. (“La Mancha”) (a subsidiary of La Mancha Resource Fund SCSp), an existing shareholder of the Company, has committed to participate in the Private Placement, subject to receipt of the required shareholder approvals, and, together with other existing shareholders, intends to provide a majority of the funding for the offering. The Company anticipates that, upon completion of the Private Placement, a new Control Person (as defined below), La Mancha, will be created, subject to obtaining requisite approval from the shareholders of the Company and the Toronto Stock Exchange. All Common Shares issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada. Closing is anticipated to occur on or about February 24, 2026. The use of proceeds will be for working capital and for other general corporate purposes, including existing commitments to local communities and stakeholders associated with the project. Other than in connection with Common Shares issued to La Mancha and other existing shareholders, the Company may pay finder fees in accordance with the policies of the Toronto Stock Exchange. None of the securities issued in the Private Placement will be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an off...