Earthwise Minerals plans private placement to raise up to $500,000

Earthwise Minerals Corp. (CSE: WISE) announced plans for a non-brokered private placement offering of up to 10 million units at $0.05 per unit, targeting gross proceeds of up to $500,000.

The offering includes both flow-through units and non-flow-through units, both priced at $0.05 per unit. Each non-flow-through unit consists of one common share and one warrant exercisable at $0.08 for 24 months. Each flow-through unit includes one common share and half of one warrant.

The flow-through shares are structured to qualify under Canada's Income Tax Act, with proceeds designated for Canadian exploration expenses that the company will renounce to purchasers for tax purposes.

Earthwise stated it will use proceeds from the flow-through portion to advance exploration activities at its Iron Range Gold Property in British Columbia. Non-flow-through proceeds are intended for general working capital.

The offering requires regulatory approvals and all securities will be subject to a four-month statutory hold period from closing. The company may pay finders' fees in connection with the placement.

Earthwise holds an option to earn up to 80% interest in the Iron Range Gold Project near Creston, British Columbia. The property covers a 10 km by 32 km area along the Iron Range Fault System.

The securities will not be registered under U.S. securities laws and cannot be offered or sold in the United States without registration or applicable exemption.

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