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Sokoman Minerals Corp. Closes First Tranche of Critical Mineral Flow-Through Private Placement
St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 7, 2025) - Sokoman Minerals Corp. ...
About this update from Pirate Gold Corp
[{"type":"text","content":"Sokoman Minerals Corp. Closes First Tranche of Critical Mineral Flow-Through Private PlacementSt. John's, Newfoundland and Labrador--(Newsfile Corp. - May 7, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (\"Sokoman\" or the \"Company\") is pleased to announce that, further to its April 25, 2025, news release, the Company has filed documents with the TSX Venture Exchange (the \"Exchange\") and received conditional approval for its CAD$400,000 non-brokered flow-through private-placement financing (the \"FT Financing\"). Sokoman also received approval to close the first tranche of 6,000,000 FT common shares at CAD$0.05, for aggregate gross proceeds of CAD$300,000. Timothy Froude, P. Geo., President and CEO, states, \"With spring breakup nearly complete, we're preparing to resume work at our traditional bulk sample project. We're grateful for the continued support from investors and the Mineral Incentive Program, which together will strengthen our treasury to approximately CAD$1.3 million and position us well for the upcoming exploration season.\"In connection with the first tranche of the FT Financing, the Company will pay cash finders' fees totalling CAD$18,000 and 360,000 non-transferable broker warrants exercisable at CAD$0.07 for one year as permitted by the policies of the Exchange. All securities issued pursuant to the FT Financing are subject to a four-month and one-day hold period.Final approval of the FT Financing is subject to Exchange approval.The Company will use an amount equal to the gross proceeds received by the Company from the sale of the flow-through shares (the \"FT Shares\"), pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) on or before December 31, 2026, and to renounce all of the qualifying expenditures in favour of the subscribers of the FT Shares. The Company intends to spend the flow-through proceeds on the Company's exploration projects. Sokoman Minerals wishes to thank the Government of Newfoundland and Labrador for the CAD$150,000 received through the Mineral Incentive Program, administered by the Department of Industry, Energy and Technology, in support of our exploration efforts.About Sokoman Minerals Corp. Sokoman Minerals Corp...