MINK Ventures Closes First Tranche of Critical Minerals Flow-Through and HARD Dollar Financing
MINK VENTURES CLOSES FIRST TRANCHE OF CRITICAL MINERALS FLOW-THROUGH AND HARD
DOLLAR FINANCING
Toronto, Ontario, April 11, 2025 – Mink Ventures Corporation (TSXV:MINK) (“Mink” or the "Company")
announces it has closed the first tranche of its non-brokered private placement (the “Offering’) announced on
March 13, 2025. The Company has raised gross proceeds of $190,000 from the issuance of 1,487,900
hard dollar units (the "HD Units") at a price of $0.10 per HD Unit and the issuance of 317,000 CMETC
eligible flow-through units (the “FT Units”) at a price of $0.13 per FT Unit in this first tranche. A second
and final closing of the Offering is expected to occur on April 25, 2025.
Each HD Unit consists of one common share of the Company (a “Common Share”) and one Common Share
purchase warrant (“HD Warrant”). Each HD Warrant shall entitle the holder thereof to acquire one (1) common
share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of
$0.20.
Each FT Unit consists of one Common Share of the Company (a “FT Share”) and one Common Share purchase
warrant (“FT Warrant”). Each FT Warrant shall entitle the holder thereof to acquire one (1) common share of the
Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month
plus a day hold periods expiring on August 12, 2025. The Private Placement is subject to obtaining final approval
of the TSX Venture Exchange.
The FT Shares are to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the
"Tax Act"). An amount equal to the portion of the subscription price that is directly attributable to the
consideration paid for the subscription and issuance of the FT Shares will be used to incur eligible resource
exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), and
(ii) "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Tax Act)
(collectively, the "Qualifying Expenditures"). Qualifying Expenditures in an aggregate amount equal to the gross
proceeds raised from the issuance of the FT Shares will be renounced to the initial purchasers of the FT Units
with an effective date no later than December 31, 2025.
Certain directors and officers of the Company purchased an aggregate of 121,900 HD Units pursuant to the
Private Placement, constituting a “related party transaction” as such term is defined by Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction will be
exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in
connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as
determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the
transaction, insofar as it involves the Related Parties, exceeds 25% of the Company’s market capitalization (as
determined under MI 61-101)
The Company paid aggregate finder’s fees totaling $6723.50 in cash and 65,450 in non-transferable finder's
warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to acquire one (1) common
share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of
$0.20. All of the finder’s fees are subject to compliance with applicable securities legislation and TSX Venture
Exchange policies
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The Company plans to use the net proceeds raised from the sale of the HD Units and FT Units under the Offering
for the exploration and advancement of the Company’s Montcalm nickel copper cobalt project, the Warren
copper nickel project and, in respect of the HD Unit proceeds, for general working capital purposes.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical
minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink’s
flagship Montcalm Project covers 40 km2 adjacent to Glencore’s former Montcalm Mine which had historical
production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey,
Atkinson, 2010). Its 100% owned, Warren Ni Cu Co Project, which covers 1,130 hectares is located 35 km away.
Both projects have excellent access and infrastructure with an all-weather access road and power as well as its
proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance
from this tranche of the Private Placement, the Company has 25,011,388 Common Shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T:
250-882-5620 E: [email protected] or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca
Forward Looking Statements
This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, but not limited
to, statements with respect to the completion of the Offering, the proposed use of proceeds, the exploration potential of the Company's
mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and
the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance
the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties;
accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining
governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could
cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with
Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated,
estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any
obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except
as required by applicable securities laws.
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.