Future Mineral closes first tranche of private placement for $155,000

Future Mineral Resources Inc. (TSX: FMR) completed the first tranche of a previously announced private placement financing, issuing 516,666 common shares at $0.30 per share for gross proceeds of $154,999.80.

The Toronto-based company paid $8,400 as a finder fee in connection with the first tranche. The securities are subject to a statutory four-month hold period expiring July 13, 2026.

The first tranche represents part of a larger non-brokered private placement of up to 15 million common shares that could raise gross proceeds of up to $4.5 million. Completion of the full offering requires final approval from the Toronto Stock Exchange.

Future Mineral stated it expects to use net proceeds from the first tranche for working capital and general corporate purposes. The company describes itself as a venture capital firm focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas and Europe.

The information was disclosed in a company press release.

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