Business
Medaro Mining Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2026) - Medaro Mining Corp. (CSE: MEDA) (OTCID: MEDAF) (FSE: 1ZY) ("Medaro" or the "Company") is ple
About this update from Medaro Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 27, 2026) - Medaro Mining Corp. (CSE: MEDA) (OTCID: MEDAF) (FSE: 1ZY) (\"Medaro\" or the \"Company\") is pleased to announce that, further to its news release dated January 27, 2026, the Company has closed its non-brokered private placement for aggregate gross proceeds of $976,100.18 (the \"Private Placement\"). The Private Placement consisted of two parts: 2,387,000 non flow-through units at a price of $0.30 per unit (the \"NFT Units\"). Each NFT Unit consists of one common share in the capital of the Company and one common share purchase warrant (a \"NFT Warrant\"), exercisable at a price of $0.45 to acquire one common share for a period of 36 months from the date of issuance; and 684,211 flow-through units at a price of $0.38 per unit (the \"FT Units\"). Each FT Unit consists of one common share in the capital of the Company, issued on a flow-through basis pursuant to the Income Tax Act (Canada), and one common share purchase warrant (a \"FT Warrant\"), exercisable at a price of $0.55 to acquire one common share for a period of 36 months from the date of issuance. In connection with the Private Placement, the Company paid aggregate cash finder's fees of $68,327.01 and issued an aggregate of: (i) 167,090 non-transferable non flow-through finder's warrants, exercisable at a price of $0.45 to acquire one common share for a period of 36 months from the date of issuance; and (ii) 47,894 flow-through finder's warrants, exercisable at a price of $0.55 to acquire one common share for a period of 36 months from the date of issuance. The Company previously announced that the common share purchase warrants underlying both the NFT Units and FT Units would be exercisable for a period of 24 months from the date of issuance. However, those warrants will now be exercisable for a period of 36 months from the date of issuance. All other terms of those warrants remain unchanged. The Company intends to use the net proceeds from the Private Placement to advance exploration activities at its recently staked Sweden Property and Clay Howells West Property located in Ontario, as well as for general corporate purposes and administrative expenses. The gross proceeds from the sale of the FT Units will be used to incur \"Canadian exploration expenses\" within the meaning of the Income Tax...