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Sokoman Minerals Closes $26 Million "Bought Deal" Private Placement, including Full Exercise of Over-Allotment
St. John's, Newfoundland and Labrador--(Newsfile Corp. - October 31, 2025) - Sokoman Minerals Cor...
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[{"type":"text","content":"Sokoman Minerals Closes $26 Million \"Bought Deal\" Private Placement, including Full Exercise of Over-AllotmentSt. John's, Newfoundland and Labrador--(Newsfile Corp. - October 31, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (\"Sokoman\" or the \"Company\") is pleased to announce that it has closed its previously announced bought deal private placement offering (the \"Offering\") for aggregate gross proceeds to the Company of $26,221,750. The Offering consisted of: 53,000,000 common shares of the Company (the \"Common Shares\") at a price of $0.19 per Common Share for aggregate gross proceeds of $10,070,000; and 60,950,000 common shares of the Company (the \"FT Shares\") that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"), including 7,950,000 FT Shares issued pursuant to the full exercise of the over-allotment option, at a price of $0.265 per FT Share for aggregate gross proceeds of $16,151,750. The FT Shares were distributed on a charity flow through basis.Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 53,000,000 Common Shares in connection with the Offering.The net proceeds from the sale of the Common Shares will be used by the Company for property acquisitions as well as working capital and general corporate purposes. The gross proceeds from the sale of the FT Shares will be used to incur \"Canadian exploration expenses\" (as defined in the Tax Act) that will qualify as \"flow-through mining expenditures\" within the meaning of the Tax Act (the \"Qualifying Expenditures\"). The Qualifying Expenditures will be incurred on or before December 31, 2026, and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2025.The Offering was led by Canaccord Genuity Corp. (\"Canaccord\"), as lead underwriter and sole bookrunner, and BMO Capital Markets (together with Canaccord, the \"Underwriters\") pursuant to an underwriting agreement entered into among the Company and the Underwriters. In connection with the Offering, the Company paid the Underwriters a cash commission of $1,073,305 and issued the Underwriters 3,679,105 broker warrants (the \"Broker Warrants\"). Each Broker Warrant entitles the holder thereof to purchase ...