Business
Heritage Mining Closes Third and Final Tranche of Private Placement and Issues Shares for Debt
VANCOUVER, BC, December 31, 2025 – TheNewswire - Heritage Mining Ltd. (CSE: HML FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that further to it
About this update from Heritage Mining Ltd.
[{"type":"text","content":"VANCOUVER, BC, December 31, 2025 – TheNewswire - 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, November 27, 2025 and December 15, 2025 the company has closed a third and final tranche of its previously announced non-brokered private placement of units and flow-through units (FT units) (the “Offering”) for gross proceeds of $687,800.94. Pursuant to the closing of the third tranche, the company has issued 800,000 units of the company at a price of $0.025 cents per unit, for aggregate gross proceeds of $20,000 and 2,214,286 FT units of the company at a price of $0.028 cents per FT unit, for aggregate gross proceeds of $62,000. 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 additional common share at an exercise price of $0.05 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 other Ontario Projects 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 third tranche, the company paid finders' fees to eligible finders consisting of $3,140 in cash and 105,000 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 $0.05 for a period of 60 months following the closing date. The Company would like to issue a correction to the finders’ fees announced on December 15, 2025 in connection with t...