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Sokoman Minerals Corp. Files for Conditional Approval, Closes First Tranche of Non-Brokered Flow-Through Private-Placement Financing
St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 1, 2025) - Sokoman Minerals Corp. ...
About this update from Pirate Gold Corp
[{"type":"text","content":"Sokoman Minerals Corp. Files for Conditional Approval, Closes First Tranche of Non-Brokered Flow-Through Private-Placement FinancingSt. John's, Newfoundland and Labrador--(Newsfile Corp. - May 1, 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\") seeking conditional approval for its CAD$400,000 non-brokered flow-through private-placement financing (the \"FT Financing\"). The Company is also seeking approval to close the first tranche of the FT Financing, issuing 6,000,000 common shares at CAD$0.05, for aggregate gross proceeds of CAD$300,000. 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. About Sokoman Minerals Corp. Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton Resources Inc. through three...