- Sokoman Minerals Corp. (SICNF, Financial) has filed for a CAD$400,000 non-brokered flow-through private placement financing with the TSX Venture Exchange.
- The company successfully closed the first tranche, raising CAD$300,000 by issuing 6 million common shares at CAD$0.05 per share.
- The funds are designated for Canadian exploration expenses, to be incurred by December 31, 2026.
Sokoman Minerals Corp. (SICNF) has announced the filing for conditional approval of a CAD$400,000 non-brokered flow-through private placement financing with the TSX Venture Exchange. The company has already closed the first tranche, securing CAD$300,000 through the issuance of 6 million common shares at a price of CAD$0.05 per share. This tranche also includes a payment of CAD$18,000 in cash finders' fees and the issuance of 360,000 non-transferable broker warrants, which are exercisable at a price of CAD$0.07 for one year. All securities issued in this financing are subject to a four-month and one-day hold period.
The net proceeds from this financing are earmarked for eligible Canadian exploration activities on Sokoman's projects, with a commitment to incur such expenses by December 31, 2026. Sokoman Minerals is a discovery-oriented company focusing on gold projects in Newfoundland and Labrador, including its flagship Moosehead project. The financing is part of Sokoman's broader strategy to advance its exploration projects, further solidifying its position in Canada's emerging gold district.
Investors are advised to consider the speculative nature of the securities and the potential dilution from the share issuance and broker warrants. The company's forward-looking objectives include maximizing the impact of the raised funds to enhance its exploration projects, contributing to the development of its assets in alignment with its strategic goals.
