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TORONTO, Oct. 30, 2025 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“Mink” or the “Company“) announces it has closed the second and final tranche of its non-brokered private placement (the “Offering’) announced on September, 2025. The Company raised aggregate gross proceeds of $857,518 from both tranches. In the second tranche, the Company raised gross proceeds of $126,000 from the issuance of 960,000 hard dollar units (the “HD Units“) at a price of $0.10 per HD Unit; and $30,000 from the issuance of 235,770 Flow Through Units (the “FT Units”) at a price of $0.13 per FT Unit.
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Each HD Unit consisted 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 Chare for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
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Each FT Unit consisted 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 for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
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All securities issued in the final tranche of the Offering are subject to a statutory four month plus a day hold period expiring on March 1, 2026. The Company paid aggregate finder’s fees in the final tranche totaling $7,680 in cash and issued 76,800 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 term expiring on October 30, 2028 for an exercise price of $0.20. The Offering and payment of finder’s fees is subject to the final approval of the TSX Venture Exchange.
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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.
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About Mink Ventures Corporation:
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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 Montcalm Project covers 100 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 Warren Ni Cu Co Project, which covers 1,130 hectares, is located 35 km away. Both projects are drill ready and permitted and have excellent access and infrastructure with an all-weather access road and power as well as proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance from this tranche of the Offering, the Company has 33,606,719 Common Shares outstanding.
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