Medaro Mining Announces Flow-Through Private Placement of Up to $2 Million

About this update from Medaro Mining Corp.

[{"type":"text","content":" --Lead order to be placed by funds managed by Sprott Asset Management LP VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY) (“Medaro” or the “Company”), a multi-faceted venture aimed at developing innovative spodumene processing technology concurrent with its clean-energy focused exploration on properties located across Canada, is pleased to announce its intention to carry out a private placement (the “FT Financing”) of up to 2,857,142 flow-through units (each, an “FT Unit”) at a price of $0.70 per FT Unit, for aggregate gross proceeds of up to $2,000,000. Funds managed by Sprott Asset Management LP have expressed their intention to subscribe for the lead order under the FT Financing. Each FT Unit will be composed of one (1) common share, issued on a flow-through basis pursuant to the Income Tax Act (Canada), and one half of one (1/2) common share purchase warrant (each whole warrant, a “Warrant”), each Warrant to be exercisable at $0.90 per share for two years from issuance. The Company intends to use the net proceeds of the FT Financing for qualifying exploration at its properties in Ontario, Quebec and Saskatchewan. The Company may pay finder’s fees in respect of a portion of the proceeds raised through the FT Financing in accordance with the policies of the Canadian Securities Exchange. All securities issued in connection with the FT Financing will be subject to a four-month and one day hold period under applicable securities laws. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. ON BEHALF OF THE BOARD OF DIRECTORSFaizaan LalaniPresident & Director About Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY) Medaro Mining is a lithium exploration company based in Vancouver, BC, which holds options on the Superb Lake lithium property located in Thunder Bay, Ontario, the Cyr South lithium property located in James ...

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