Medaro Announces Closing of Oversubscribed Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES
Medaro Announces Closing of Oversubscribed Non-Brokered
Private Placement
VANCOUVER, BC (November 17, 2021) — Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF)
(FWB: 1ZY) (“ Medaro” or the “ Company”), a multi -faceted venture aimed at developing innovative
spodumene processing technology concurrent with its clean-energy focused exploration on properties
located across Canada, is pleased to announce that it has closed its oversubscribed private placement (the
“FT Financing”), issuing an aggregate of 6,459,899 flow-through units (each, an “FT Unit”) at a price of
$0.70 per FT Unit, raising gross proceeds of $4,521,929.
Each FT Unit is composed of one (1) common share (a “Share”), issued on a flow-through basis pursuant
to the Income Tax Act (Canada), and one-half of one (1/2) transferable common share purchase warrant
(each whole warrant, a “Warrant”). Each full Warrant is exercisable at $0.90 per share for two years from
issuance.
The Company intends to use the net proceeds of the FT Financing for qualifying exploration at its properties
in Ontario, Quebec and Saskatchewan.
In conjunction with the financing, an aggregate of $188,786 in finder’s fees and 269,694 non-transferable
finder warrants (each, a “Finder’s Warrant”) were paid to finders. Each Finder’s Warrant is exercisable
into one (1) common share at $0.90 for a period of two years from the date of issuance.
The FT Units issued under the FT Financing are subject to a four -month and one-day hold period, which
expires March 17, 2022. Additional details respecting the FT Financing can be found in the Form 9 filed in
accordance with the rules of the Canadian Securities Exchange, a copy of which is available at
www.thecse.com under the Company’s profile.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This press 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Faizaan Lalani
President & Director
About Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY)
Medaro Mining is a lithium exploration company based in Vancouver, BC , which holds options on the
Superb Lake lithium property located in Thunder Bay, Ontari o, the Cyr South lithium property located in
James Bay, Quebec and the Yurchison uranium property in Northern Saskatchewan. The Company is also
involved in the development and commercialization of a new process to extract lithium from spodumene
concentrate through its Global Lithium Extraction Technologies joint venture. Find out more at:
https://medaromining.com/.
For detailed information, investors are invited to review the Company’s filings available at www.sedar.com.
FOR FURTHER INFORMATION CONTACT:
Investor Relations
Email: [email protected]
Phone: 604-256-5077
Web: https://medaromining.com/
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities
laws. All statements that are not historical facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future
performance, including statements respecting the intended use of proceeds from the FT Financing are
"forward-looking statements." These forward -looking statements reflect the expectatio ns or beliefs of
management of the Company based on information currently available to it. Forward -looking statements
are subject to a number of risks and uncertainties, including those detailed from time to time in filings made
by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially
from those discussed in the forward-looking statements. These factors should be considered carefully, and
readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking
statements and information contained in this news release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any forward -looking statements or information,
whether as a result of new information, future events or otherwise, unless so required by applicable
securities laws.