Murchison Minerals plans $1M private placement for BMK project

Murchison Minerals Ltd. (TSXV: MUR) announced a non-brokered private placement of up to $1,000,000, subject to TSX Venture Exchange acceptance, with proceeds directed toward its BMK zinc-copper-silver project in Saskatchewan, as well as working capital and administrative expenses.

The company will issue common share units (CSUs) at $0.18 per unit and flow-through common share units (FTUs) at $0.25 per unit, in any combination, to raise gross proceeds of up to $1,000,000. Each CSU and FTU includes one-half of a warrant, with each whole warrant exercisable at $0.50 per share for 24 months.

A finder's fee of 6% cash and 6% in finders' warrants may apply to a portion of the proceeds. Finders' warrants will be exercisable at $0.18 per share for 24 months. All securities issued will be subject to a four-month hold period from the date of issue.

Proceeds from FTU sales will fund eligible Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada), to be renounced to subscribers with an effective date no later than December 31, 2026. Net proceeds from CSU sales will support BMK project exploration, working capital, and general administrative expenses.

Company insiders, including directors and officers, may participate in the offering. The company stated it will rely on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the fair market value of insider participation is not expected to exceed 25% of the company's market capitalization. The offering was approved by all independent directors.

Murchison Minerals is a Canadian exploration company focused on the BMK project in north-central Saskatchewan and nickel-copper-cobalt exploration at its HPM project in Quebec, both 100% owned by the company.

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