Giant Mining Announces Closing of Final Tranche of Non- Brokered Private Placement for Cumulative Gross Proceeds of $3,367,024.80
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Press Release January 10, 2025
Giant Mining Announces Closing of Final Tranche of Non-
Brokered Private Placement for Cumulative Gross Proceeds
of $3,367,024.80
VANCOUVER, BC — January 10, 2025 — Giant Mining Corp. (CSE: BFG | OTC: BFGFF |
FWB: YW5) (“Giant Mining” or the “Company”) is pleased to announce that further to its
news releases dated December 4th, 5th and 31st, 2024, the Company has closed the final tranche
of its non-brokered private placement (the “NBPP”) comprised of an additional 6,375,000 units
(the “Units”) in the capital of the Company at a price of $0.10 per Unit for gross proceeds of
$637,500.
Each Unit consists of one common share (each, a “Share”) and one transferable Share purchase
warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one additional Share
of the Company at a price of $0.25 per share for a period of 12 months from the date of issuance.
Combined with the closing of the first tranche of the NBPP and the closing of the listed issuer
financing exemption non-brokered private placement (the "LIFE Offering"), the Company has
raised total gross proceeds of $3,367,024.80.
David Greenway, President & CEO of Giant Mining commented, "We are excited to close this
private placement and move forward with our drilling program for 2025. These funds will enable
us to unlock the true potential of our properties, enhancing their value while addressing the
growing demand for copper, a critical resource for the electrification of the world’s economy. As
industries like data centers, artificial intelligence, and renewable energy continue to expand, the
need for copper becomes even more vital. Giant Mining is proud to play a key role in meeting
this demand and contributing to a sustainable, innovative future."
The Warrants have an acceleration provision, which provides that in the event that after four
months and one day after the Warrants are issued, the weighted average daily trading price of
the Shares on the Canadian Securities Exchange, or such other market as the Shares may trade
from time to time, is or exceeds $0.40 for any five (5) consecutive trading days, the Company
may provide notice, whether by written notice or the issuance of a news release (the
“Acceleration Notice”) to the Warrant holder that the expiry date of the Warrants has been
accelerated and that Warrants not exercised within 30 days of the date of the Acceleration Notice
will expire 30 days from the date of the Acceleration Notice.
The securities issued pursuant to the NBPP and LIFE Offering have not, nor will they be
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registered under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws and may not be offered or sold within the United States or to,
or for the account or benefit of, "U.S. Persons" (as such term is defined in Regulation S under
the U.S. Securities Act) absent such registration or an applicable exemption from the registration
requirements of the U.S. Securities Act. This news release does not constitute an offer for sale
of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of
securities in the United States must be made by means of a prospectus containing detailed
information about the company and management, as well as financial statements. This news
release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in the United States or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful.
Certain insiders of Giant Mining purchased an aggregate of 2,750,000 Units in the NBPP (the
“Insider Participation“). The Insider Participation is exempt from the valuation and minority
shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority
Securityholders in Special Transactions (“MI 61-101“) by virtue of the exemptions contained
in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider
Participation does not exceed 25% of Giant Mining’s market capitalization.
In connection with the final tranche of the NBPP, the Company paid an aggregate of $21,400 in
cash finders' fees and issued an aggregate of 214,000 finders' Warrants. The finders' Warrants
are non-transferable and have the same terms as the Warrants forming part of the Units.
The Units including the Shares, Warrants and finders' Warrants issued as part of the final tranche
of the NBPP are subject to a hold period until May 15, 2025, pursuant to applicable securities
legislation.
The Company intends to use the proceeds of the NBPP and LIFE Offering on its core drilling
program, updating 43-101 report and general working capital.
About Giant Mining Corp.
Giant Mining Corp. is focused on identifying, acquiring, and advancing late-stage copper and copper/silver/gold
projects to meet the growing global demand for critical metals. This demand is driven by initiatives like the
Green New Deal in the United States and similar climate-focused programs worldwide, which require substantial
amounts of copper, silver, and gold for electric vehicles, renewable energy infrastructure, and the modernization
of clean and affordable energy systems.
The Company’s flagship asset is the Majuba Hill Copper, Silver, and Gold District, located 156 miles (251 km)
from Reno, Nevada. Majuba Hill is situated in a mining-friendly jurisdiction with supportive regulations and has
the potential to become one of the next major copper deposits, critical for meeting the increasing need for this
red metal.
In addition, Giant Mining Corp. holds a 20% ownership stake in the Friday Gold Project, located in the historic
Orogrande Mining District, Idaho, approximately 16 km south-southwest of Elk City. With a resource base of
1,237,000 ounces of gold, Friday Gold presents promising opportunities for exploration and development,
reinforcing the Company’s strategy of advancing high-value resource assets in stable, mining-friendly regions.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
P: 1 (236) 788 0643
VISIT OUR WEBSITE FOR MORE DETAILS
www.giantminingcorp.com
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Forward-Looking Statements
This news release contains certain forward-looking information. Such information involves known
and unknown risks, uncertainties and other factors that may cause actual results, performance
or achievements to be materially different from those implied by statements herein, and
therefore these statements should not be read as guarantees of future performance or results.
All forward-looking statements are based on the Company’s current beliefs as well as
assumptions made by and information currently available to it as well as other factors. Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only
as of the date of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by the Company in its public securities filings, actual events may differ
materially from current expectations. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
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