Stelmine Canada Ltd. announced a non brokered private placement to issue flow-through units on December 12, 2023. Each FT Unit consisted of one common share and one-half of a non-flow-through common share purchase warrant. Each Warrant will entitle the holder to acquire one additional common share at a price of CAD 0.14 per common share until December 12, 2025.

On the same date, the company announced that it has issued 5,943,528 FT Units at a price of CAD 0.085 per FT Unit for the gross proceeds of CAD 505,199.88 in the first tranche. In connection with the Offering, the Company will pay a finder?s fee of CAD 26,775 in cash. The transaction included participation from 3 insiders for CAD 18,800. All securities issued in connection with this Offering are subject to a hold period of four months ending on April 13, 2024 in accordance with applicable securities laws. The Offering is subject to the approval of the TSX Venture Exchange.