Zimtu Capital : ISM Resources closes $2-million private placement

ISM Resources Corp. has closed its previously announced non-brokered private placement. The Offering consisted of 5,714,285 units of the Company (the "Units") at $0.35 per Unit for aggregate gross proceeds of approximately $2 million.

Each Unit consists of one flow-through common share in the capital of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional share (each, a "Warrant Share"), at an exercise price of $0.70 per Warrant Share until August 14, 2025.

The Company intends to use the proceeds from the Offering for work programs on the Serindac Lake claims and Vaubert Lake claims located in the Nunavik region of Northern Quebec.

The securities issued pursuant to the Offering are subject to a four-month hold period ending on December 15, 2023 under applicable Canadian securities laws.

In connection with the closing of the Offering, the Company paid an aggregate cash commission of approximately $60,588 to arm's length finders and issued to such finders 173,109 finder's warrants (each a, "Finder's Warrant"). Each Finder's Warrant entitles the holder thereof to acquire one common share of the Company at $0.70 until August 14, 2025.

About ISM Resources Corp.

ISM Resources Corp. is a Canadian exploration company focused on advancing mineral resource projects in North America. It expects to acquire and hold promising assets in northern Quebec, including the Serindac Lake and Vaubert Lake Claims. Additionally, the Company is actively advancing its ESN Project for gold exploration in Nevada and evaluating the Koster Dam Project in Central British Columbia through a joint venture with Cariboo Rose Resources.