Business
Powermax Minerals Announces Closing of $3M Private Placement Offerings
Toronto, Ontario--(Newsfile Corp. - November 28, 2025) - Powermax Minerals Inc. (CSE: PMAX) (the "Company" or "Powermax") is pleased to announce that it has completed a non-brokered private placement offering (the "Non-FT Private Placement") of 1,643,947 units of the Company ("Non-FT Units") at a price of $0.76 per Non-FT Unit, for aggregate gross proceeds of $1,249,400. Each Non-FT Unit consists of one common share of the Company ("Share") and one Share purchase warrant ("Warrant"), with each..
About this update from Powermax Minerals, Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - November 28, 2025) - Powermax Minerals Inc. (CSE: PMAX) (the "Company" or "Powermax") is pleased to announce that it has completed a non-brokered private placement offering (the "Non-FT Private Placement") of 1,643,947 units of the Company ("Non-FT Units") at a price of $0.76 per Non-FT Unit, for aggregate gross proceeds of $1,249,400. Each Non-FT Unit consists of one common share of the Company ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one Share at an exercise price of $0.95 for a period of 36 months from the date of issuance.","length":702,"tagName":"p"},{"type":"text","content":"The Company is also pleased to announce that it has completed a non-brokered private placement offering (the "FT Private Placement", and together with the Non-FT Private Placement, the "Private Placement Offerings") of 1,945,000 flow-through units of the Company ("FT Units") at a price of $0.90 per FT Unit, for aggregate gross proceeds of $1,750,500. Each FT Unit consists of one Share ("FT Share") and one (non-flow-through) Share purchase warrant ("FT Warrant"), with each FT Warrant entitling the holder to purchase a (non-flow-through) Share at an exercise price of $1.10 for a period of 24 months from the date of issuance.","length":680,"tagName":"p"},{"type":"text","content":"The FT Shares are intended to qualify as "flow through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). The proceeds from the sale of the FT Shares will be used to incur "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures" as those terms are defined in the Tax Act.","length":377,"tagName":"p"},{"type":"text","content":"In conjunction with the Offering, the Company paid an aggregate of $164,994 in finder's fees and issued 195,600 finder's warrants to finders. Each finder's warrant is exercisable into one Share at a price of $0.95 for a period of 36 months from the date of issuance.","length":278,"tagName":"p"},{"type":"text","content":"Proceeds from the sale of the Non-FT Units are intended to be used for general working capital purposes and t...