Business
Heritage Mining Announce Closing of First Tranche of Non-Brokered Private Placement
TORONTO, ON – TheNewswire - March 17, 2026 – Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that further to its n
About this update from Heritage Mining Ltd.
[{"type":"text","content":"TORONTO, ON – TheNewswire - March 17, 2026 – Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that further to its news release dated March 4, 2026, the Company has closed the first tranche of its previously announced non-brokered private placement (the “Offering”) of units (“Units”) and flow-through shares (“FT Shares”) for gross proceeds of $665,000. Pursuant to the closing of the first tranche, the Company has issued 8,000,000 Units of the Company at a price of $0.04 per Unit, for aggregate gross proceeds of $320,000.00 and 8,625,000 FT Shares of the Company at a price of $0.04 per FT Share, for aggregate gross proceeds of $345,000.00. Each Unit consists of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (a “Warrant”). Each FT Share will qualify as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act (Canada). The gross proceeds from the FT Shares will be used by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as both terms are defined in the Income Tax Act (Canada). The Company also intends that such expenses incurred will be eligible for the Critical Mineral Exploration Tax Credit. Each Warrant will entitle the holder to acquire one Common Share (each, a “Warrant Share”) at an exercise price of $0.05 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 60 months from the closing date of the Offering (the “Expiry Time”). Proceeds of the Offering will be used to fund the Company’s follow up exploration and drilling programs on its Melba Project and Drayton-Black Lake Project and general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the closing of the first tranche, the Company paid finders’ fees to eligible finders consisting of $21,600 in cash and 525,000 compensation unit warrants (“Compensation Unit Warrants”) Each Compensation Unit Warrant will entitle the holder to acquire one Common Share and one Warrant of the Company at an exercise price of $0.04, for a period of 60 months following the Closing Date. A Finder’s Fee equal to 1.0% cash compensation on the number of Units issued pursuant to ...