Search Minerals Closes Non-Brokered Private Placement Financings
Search Minerals Closes Non-Brokered Private
Placement Financings
St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - November 7, 2025) - Search Minerals Inc.
(
TSXV: SMY
) ("
Search Minerals
" or the "
Company
") is pleased to announce that it has closed its
previously announced non-brokered private placement financings for gross proceeds of $843,847,
issuing the following:
1,487,694 units (the "
FT Units
") at a price of $0.50 per FT Unit for gross proceeds of $743,847
(the "
FT Financing
"). Each FT Unit consisted of one flow-through common share (a "
FT Share
")
and one-half of one transferable non-flow-through common share purchase warrant (each whole
warrant, a "
Warrant
"). Each Warrant is exercisable to acquire one non-flow-through common
share of the Company at an exercise price of $0.65 per share until November 6, 2027. 620,002 of
the FT Units were issued on a charity flow-through basis through an arrangement with Wealth
Creation Preservation & Donation Inc.
303,030 common shares (the "
Offered Shares
") on a non-flow through basis at a price of $0.33
per Offered Share for gross proceeds of $100,000 (the "
Share Financing
" and together with the
FT Financing, the "
Financings
").
The gross proceeds from the FT Financing will be used by the Company to incur eligible "Canadian
exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the
Income Tax Act
(Canada) related to the Company's Foxtrot and Deep Fox projects in Labrador. The
Company also intends that such expenses incurred will be eligible for the Critical Mineral Exploration Tax
Credit. The net proceeds from the Share Financing will be used by the Company for working capital and
general corporate purposes.
In connection with the Financings, the Company has: (i) paid an aggregate of $16,109.76 in cash finder's
fees to Mine Equities Ltd. and Canaccord Genuity Corp. representing 6% of the gross proceeds of the
FT Units that were sold to subscribers introduced by such parties; and (ii) issued an aggregate of 6,000
non-transferable common share purchase warrants (the "
Finder's Warrants
") to Canaccord Genuity
Corp., representing 6% of the FT Units that were sold to subscribers introduced by such party. Each
Finder's Warrant is exercisable to acquire one non-flow-through common share of the Company at an
exercise price of $0.65 per share until November 6, 2027.
The Financings are subject to final acceptance of the TSX Venture Exchange.
The FT Shares and Warrants comprising the FT Units and the Offered Shares, as well as the common
shares issuable on exercise of the Warrants and the Finder's Warrants, are subject to a hold period
under applicable Canadian securities laws which will expire on March 7, 2026.
For further information about Search Minerals, please contact:
Joseph Lanzon
CEO and Director
Telephone: 613-796-5957
Email:
About Search Minerals
Search Minerals is focused on exploring for and developing Critical Rare Earths Elements (CREE) as
well as transition metals Zirconium (Zr) and Hafnium (Hf) within the emerging Port Hope Simpson - St.
Lewis CREE District of South-East Labrador. The Company controls two deposits (Foxtrot and Deep
Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other CREE prospects,
including Fox Valley, Foxy Lady and Awesome Fox, along a 64 kilometre long belt forming a CREE
District in Labrador.
Search Minerals also controls additional CREE assets in the Red Wine CREE District of central
Labrador. These include: the drill ready Two Tom Lake CREE-Be-Nb deposit, the Mann #1 CREE-Nb-
Be prospect and Merlot CREE Prospect.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking
information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the
meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information
can be identified by the use of words and phrases or variations of such words and phrases or
statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project",
"estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this
news release are based on certain material assumptions and involve, known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of
Search Minerals to be materially different from any future results, performance or achievements
expressed or implied by the Forward-Looking Information. Such risks and other factors include, those
factors discussed in Search Minerals' public filings. Although Search Minerals has attempted to
identify important factors that could affect Search Minerals and may cause actual actions, events or
results to differ materially from those described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. There can
be no assurance that Forward-Looking Information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on Forward-Looking Information. For further information on these and
other risks and uncertainties that may affect the Company's business, see the Company's
Management's Discussion and Analysis filed with certain Canadian securities regulators, which are
available at www.sedarplus.ca. Except as required by law, Search Minerals does not assume any
obligation to release publicly any revisions to Forward-Looking Information contained in this news
release to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/273600