Mink Ventures Announces $500,000 Non-Brokered Private Placement of Critical Minerals Flow-Through and Hard Dollar Financing

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[{"type":"text","content":"Mink Ventures Announces $500,000 Non-Brokered Private Placement of Critical Minerals Flow-Through and Hard Dollar FinancingToronto, Ontario--(Newsfile Corp. - May 7, 2024) - Mink Ventures Corporation (TSXV: MINK) (\"Mink\" or the \"Company\") announces a non-brokered private placement for aggregate gross proceeds of up to $500,000 (the \"Offering'). The Offering will consist of the sale of hard dollar units (the \"HD Units\") of the Company at a price of $0.11 per HD Unit and flow-through units (the \"FT Units\") of the Company at a price of $0.14 per FT Unit.Each HD Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (\"HD Warrant\"). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.25. Each FT Unit will consist of one Common Share of the Company (a \"FT Share\") and one half of one Common Share purchase warrant (\"FT Warrant\"). Each whole FT Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.25.The FT Shares are to be issued as \"flow-through shares\" within the meaning of the Income Tax Act (Canada) (the \"Tax Act\"). An amount equal to the portion of the subscription price that is directly attributable to the consideration paid for the subscription and issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) \"Canadian exploration expenses\" (as defined in the Tax Act), and (ii) \"flow-through critical mineral mining expenditures\" (as defined in subsection 127(9) of the Tax Act) (collectively, the \"Qualifying Expenditures\"). Qualifying Expenditures in an aggregate amount equal to the gross proceeds raised from the issuance of the FT Shares will be renounced to the initial purchasers of the FT Units with an effective date no later than December 31, 2024. The Company plans to use the net proceeds raised from the sale of the HD Units and FT Units under the Offering for the exploration and advancement of the Company's Montcalm nickel copper cobalt project, the Warren copper nickel project and, in respect of the HD Unit proceeds, for general working...

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