Business
Heritage Mining Closes Second Tranche of Private Placement and Provides Exploration Update
VANCOUVER, BC – TheNewswire - December 15, 2025 – Heritage Mining Ltd. (CSE: HML FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that further to i
About this update from Heritage Mining Ltd.
[{"type":"text","content":"VANCOUVER, BC – TheNewswire - December 15, 2025 – Heritage Mining Ltd. (CSE: HML FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that further to its news release dated Nov. 18, 2025 and November 27, 2025, the company has closed a second tranche of the non-brokered private placement of units and flow-through units (FT units) for gross proceeds of $105,799.95 on December 12, 2025. The Company is also pleased to announce the completion of its asset purchase agreement for the Scattergood project for 100% ownership. Pursuant to the closing of the second tranche, the company has issued 2,000,000 units of the company at a price of 2.5 cents per unit, for aggregate gross proceeds of $50,000 and 1,992,855 FT units of the company at a price of 2.8 cents per FT unit, for aggregate gross proceeds of $55,799.95. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each FT unit consists of one common share which will qualify as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada) and one warrant. The gross proceeds from the FT units 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 at an exercise price of five cents per warrant share until 4:30 p.m. Pacific Time on that date that is 60 months from the closing date of the offering. Proceeds of the offering will be used to finance the company's planned exploration and drilling programs on its Melba Project as well as Drayton-Black Lake project and Contact Bay 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 second tranche, the company paid finders' fees to eligible finders consisting of $6,506 in cash and 279,500 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 five cents, for a period of 60 months following the closing date. A se...