Sokoman Minerals Announces $24 Million “Bought Deal” Private Placement of Common Shares Led by Eric Sprott
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Not for distribution to United States newswire services
or for dissemination in the United States
Sokoman Minerals Announces $24 Million “Bought Deal” Private
Placement of Common Shares Led by Eric Sprott
St. John’s, NL, October 8, 2025 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF)
(“Sokoman” or the “Company”) is pleased to announce that it has entered into an agreement
pursuant to which Canaccord Genuity Corp., as lead underwriter, on behalf of a syndicate of
Underwriters to be formed (collectively, the “Underwriters”), in connection with a “bought deal”
private placement (the “Offering”). The Company is also pleased to announce that it has secured
the commitment of Eric Sprott, an existing major shareholder, to participate in the Offering. The
Offering will consist of:
1. 53,000,000 common shares of the Company (the “Common Shares”) at a price of
C$0.19 per Common Share (the “Common Share Offering Price”) for aggregate
gross proceeds of C$10,070,000; and
2. 53,000,000 common shares of the Company (the “FT Shares”) that will qualify as
“flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act
(Canada) (the “Tax Act”) at a price of C$0.265 per FT Share for aggregate gross
proceeds of C$14,045,000. The FT Shares are being distributed on a charity flow
through basis.
The Underwriters will have the option exercisable, in whole or in part at any time up to 48 hours
prior to the closing of the Offering, to purchase up to an additional 7,950,000 Common Shares at
the Common Share Issue Price for additional gross proceeds of $1,510,500.
The Company expects to use the net proceeds from the sale of the Common Shares for property
acquisitions as well as working capital and general corporate purposes. The gross proceeds from
the sale of the FT Shares will be used to incur Qualifying Expenditures (as defined below).
The Company will use an amount equal to the aggregate gross proceeds raised from the issuance
of the FT Shares to incur “Canadian exploration expenses” (as defined in the Tax Act) that will
qualify as “flow-through mining expenditures” within the meaning of the Tax Act (the “Qualifying
Expenditures”). The Qualifying Expenditures will be incurred on or before December 31, 2026
and will be renounced by the Company to the initial purchasers of the FT Shares with an effective
date no later than December 31, 2025.
In the event that the Company is unable to renounce Qualifying Expenditures in an aggregate
amount equal to the gross proceeds raised from the issuance of the FT Shares, with an effective
date of no later than December 31, 2025, as described above, and/or the Qualifying Expenditures
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are otherwise reduced by the Canada Revenue Agency, the Company will, to the extent permitted
by the Tax Act, indemnify each subscriber of the FT Shares for the additional taxes payable by
such subscriber as a result of the Company’s failure to renounce the full amount of the Qualifying
Expenditures or as a result of the reduction.
Insiders of the Company may participate in the Offering. Any participation by Eric Sprott or other
insiders would be considered a “related-party transaction” under Multilateral Instrument 61-101,
but is expected to be exempt from the formal valuation and m inority shareholder approval
requirements on the basis that the fair market value of the consideration does not exceed 25% of
the Company’s market capitalization. The Offering is expected to close on or about October 29,
2025, or such other date as the Company and the Underwriters may agree and is subject to certain
conditions including, but not limited to, the receipt of all necessary regulatory and other approvals
including the acceptance of the TSX V enture Exchange.
The Common Shares and FT Shares have not been registered and will not be 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 any State in which such offer, solicitation or sale would be unlawful.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is led by an experienced management team and is the dominant explorer
along the V alentine Lake Fault zone in Newfoundland, Canada's newest gold district. The
Company's primary focus is its 100% owned district-scale Treasure Island Gold Project, along
with a portfolio of gold projects, including the district-scale Fleur de Lys Project.
For more information, please contact:
Denis Laviolette, Executive Chairman, CEO & Director
Cathy Hume, VP Corporate Development & Director
T: 416-868-1079 x 251
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp
Neither the TSX V enture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Investors are cautioned that trading in the securities of the Company should be considered
highly speculative. This news release contains forward-looking statements that involve risks and
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uncertainties. Forward looking statements in this press release relate to the closing of the
Offering and use of proceeds of the Offering. Actual results may differ materially. Factors that
may cause results to vary include delays in obtaining necessary approvals, changes in the market
for the Company’s securities, results of exploration, loss of title to properties, delays in obtaining
permits or access to mineral properties, including as a result of adverse weather, fire or flood,
changes to the Income Tax Act, rejection of expenditures as Qualifying Expenditures, and
factors included in the documents filed from time to time with the Canadian securities
regulatory authorities by Sokoman Minerals Corp. Sokoman Minerals Corp. will not update
these forward-looking statements to reflect events or circumstances after the date hereof, except
as required by law.