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Libra Energy Materials Announces Closing of Oversubscribed Non-Brokered Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - December 4, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce that further to its press release dated November 10, 2025, the Company has closed its non-brokered private placement financing (the "Offering") for total gross proceeds of $1,209,273, consisting of 2,554,552 hard dollar common shares ("Hard Dollar Shares") of the Company at a price of $0.17 per Hard Dollar Share and 3,100,000 Critical...
About this update from Libra Energy Materials Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 4, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce that further to its press release dated November 10, 2025, the Company has closed its non-brokered private placement financing (the "Offering") for total gross proceeds of $1,209,273, consisting of 2,554,552 hard dollar common shares ("Hard Dollar Shares") of the Company at a price of $0.17 per Hard Dollar Share and 3,100,000 Critical Minerals Exploration Tax Credit ("CMETC") special flow-through common shares ("CMETC FT Shares") at a price of $0.25 per CMETC FT Share. The Offering remains subject to customary approvals including the approval of the Canadian Securities Exchange (the "Exchange").","length":830,"tagName":"p"},{"type":"text","content":"Each Hard Dollar Share is comprised of one common share of the Company and each CMETC FT Share is comprised of one common share of the Company that qualifies as a "CMETC flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).","length":273,"tagName":"p"},{"type":"text","content":"The gross proceeds of the CMETC FT Shares will be used to fund further exploration programs on, but not limited to, the Company's Ontario and Quebec critical mineral properties, incurring expenditures that will qualify as "Canadian Exploration Expenses" and "flow-through critical mineral mining expenditures" as those terms are defined in the Income Tax Act (Canada), which will be renounced to the purchasers of the CMETC FT Shares with an effective date no later than December 31, 2025.","length":513,"tagName":"p"},{"type":"text","content":"In connection with the Offering, insiders of the Company acquired 1,294,293 Hard Dollar Shares (the "Insider Subscription"). The Insider Subscription constituted a "related party transaction" within the meaning of the policies of the Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but was exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of s...