Sokoman Minerals Corp. (SICNF) has filed for final TSX Venture Exchange approval of its non-brokered flow-through private placement financing. The company has already closed the first tranche on April 30, 2025, issuing 6 million flow-through common shares, and upon Exchange approval, will issue an additional 2 million shares. The total financing will comprise 8 million flow-through common shares for gross proceeds of CAD$400,000. The company will pay CAD$24,000 in total finders' fees and issue 480,000 non-transferable broker warrants exercisable at CAD$0.07 for one year. The proceeds will be used for eligible Canadian exploration expenses on the company's projects, with expenditures to be completed by December 31, 2026.
Sokoman Minerals Corp. (SICNF) ha richiesto l'approvazione finale dalla TSX Venture Exchange per un finanziamento privato flow-through senza intermediari. La societ脿 ha gi脿 chiuso la prima tranche il 30 aprile 2025, emettendo 6 milioni di azioni ordinarie flow-through e, previa approvazione della Borsa, emetter脿 ulteriori 2 milioni di azioni. Il finanziamento totale comprender脿 8 milioni di azioni ordinarie flow-through per un ricavo lordo di 400.000 CAD. La societ脿 pagher脿 un totale di 24.000 CAD in commissioni ai promotori e emetter脿 480.000 warrant non trasferibili, esercitabili a 0,07 CAD per un anno. I proventi saranno utilizzati per spese di esplorazione canadesi ammissibili sui progetti della societ脿, con le spese da completare entro il 31 dicembre 2026.
Sokoman Minerals Corp. (SICNF) ha solicitado la aprobaci贸n final de la TSX Venture Exchange para una financiaci贸n privada flow-through sin intermediarios. La empresa ya cerr贸 el primer tramo el 30 de abril de 2025, emitiendo 6 millones de acciones ordinarias flow-through y, tras la aprobaci贸n de la Bolsa, emitir谩 2 millones adicionales de acciones. La financiaci贸n total comprender谩 8 millones de acciones ordinarias flow-through por ingresos brutos de 400,000 CAD. La empresa pagar谩 un total de 24,000 CAD en comisiones a intermediarios y emitir谩 480,000 warrants no transferibles ejercitables a 0.07 CAD durante un a帽o. Los fondos se utilizar谩n para gastos elegibles de exploraci贸n en Canad谩 en los proyectos de la empresa, con los gastos a completarse antes del 31 de diciembre de 2026.
Sokoman Minerals Corp. (SICNF) a d茅pos茅 une demande d'approbation finale aupr猫s de la TSX Venture Exchange pour un financement priv茅 flow-through sans interm茅diaire. La soci茅t茅 a d茅j脿 cl么tur茅 la premi猫re tranche le 30 avril 2025, 茅mettant 6 millions d'actions ordinaires flow-through, et apr猫s approbation de la Bourse, 茅mettra 2 millions d'actions suppl茅mentaires. Le financement total comprendra 8 millions d'actions ordinaires flow-through pour un produit brut de 400 000 CAD. La soci茅t茅 versera 24 000 CAD de frais de courtage au total et 茅mettra 480 000 bons de souscription non transf茅rables, exer莽ables 脿 0,07 CAD pendant un an. Les fonds seront utilis茅s pour des d茅penses d'exploration canadiennes admissibles sur les projets de la soci茅t茅, les d茅penses devant 锚tre r茅alis茅es avant le 31 d茅cembre 2026.
Sokoman Minerals Corp. (SICNF) hat die endg眉ltige Genehmigung der TSX Venture Exchange f眉r eine nicht vermittelte Flow-Through-Privatplatzierung beantragt. Das Unternehmen hat bereits die erste Tranche am 30. April 2025 abgeschlossen und 6 Millionen Flow-Through-Stammaktien ausgegeben. Nach Genehmigung der B枚rse werden weitere 2 Millionen Aktien ausgegeben. Die Gesamtfinanzierung umfasst 8 Millionen Flow-Through-Stammaktien mit Bruttoerl枚sen von 400.000 CAD. Das Unternehmen zahlt insgesamt 24.000 CAD Findergeb眉hren und gibt 480.000 nicht 眉bertragbare Broker-Warrants aus, die zu 0,07 CAD f眉r ein Jahr ausge眉bt werden k枚nnen. Die Erl枚se werden f眉r f枚rderf盲hige kanadische Explorationsausgaben der Projekte des Unternehmens verwendet, wobei die Ausgaben bis zum 31. Dezember 2026 abgeschlossen sein m眉ssen.
Positive
Secures CAD$400,000 in financing for exploration projects
Successfully closed first tranche of 6 million shares
Funds will qualify for flow-through tax benefits for investors
Negative
Potential dilution from issuance of 8 million new shares
Additional dilution possible from 480,000 broker warrants
Relatively small financing amount may require additional future funding
St. John's, Newfoundland and Labrador--(Newsfile Corp. - June 10, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman" or the "Company") is pleased to announce that, further to its , the Company has filed documents with the TSX Venture Exchange (the "Exchange") seeking final approval for its non-brokered flow-through private-placement financing (the "FT Financing").
On April 30, 2025, the Company closed the first tranche of the FT Financing, issuing 6,000,000 flow-through common shares. On receipt of Exchange approval, the Company will issue a further 2,000,000 flow-through common shares, for a total of 8,000,000 flow-through common shares issued for aggregate gross proceeds of CAD$400,000.
In connection with the FT Financing, the Company will pay a further CAD$6,000 in cash finders' fees on the second and final tranche for a total of CAD$24,000 and issue 480,000 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.
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, including the 100%-owned flagship, advanced-stage Moosehead project, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland. These projects target 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, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland.
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. For full details of the agreement, please refer to the Company's .
Projects optioned with optionee fully vested are:
East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus 1% NSR)
Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus 1% NSR)
The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program during the past few years.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO T: 709-765-1726 E:[email protected]
Cathy Hume, VP Corporate Development, Director T: 416-868-1079 x 251 E:[email protected]
Website: Twitter: Facebook: LinkedIn:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
To view the source version of this press release, please visit
FAQ
What is the total size of Sokoman Minerals (SICNF) flow-through financing?
The total financing consists of 8 million flow-through common shares for gross proceeds of CAD$400,000
When will Sokoman Minerals need to spend the flow-through proceeds?
The company must spend the proceeds on eligible Canadian exploration expenses by December 31, 2026
What are the terms of the broker warrants in Sokoman's financing?
The company will issue 480,000 non-transferable broker warrants exercisable at CAD$0.07 for one year
How many shares were issued in the first tranche of SICNF's financing?
The first tranche closed on April 30, 2025, consisted of 6 million flow-through common shares
What is the hold period for securities issued in this financing?
All securities issued are subject to a four-month and one-day hold period
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