- Sokoman Minerals Corp (TSXV: SIC, OTCQB: SICNF) is set to raise up to CAD$400,000 through a non-brokered flow-through private placement.
- The placement is priced at CAD$0.05 per share, with an imminent initial closing of CAD$300,000.
- Funds will be allocated to exploration expenses qualifying under Canadian flow-through mining expenditures.
Sokoman Minerals Corp (TSXV: SIC, OTCQB: SICNF) has announced a non-brokered private placement aiming to secure gross proceeds of up to CAD$400,000. The offering, priced at CAD$0.05 per flow-through share, is positioned to attract investors with tax benefits under the Income Tax Act (Canada). The first tranche, valued at CAD$300,000, is expected to close shortly, with the entire private placement slated for completion by May 7, 2025.
Investors participating in this flow-through private placement will benefit from applicable tax incentives, intended to facilitate Canadian exploration expenses classified as flow-through mining expenditures. These expenditures must be completed by December 31, 2026, to qualify. All securities issued as part of this placement will be subject to a hold period of four months and one day.
The President and CEO of Sokoman Minerals, Tim Froude, P.Geo., expressed optimism about the company's exploration prospects, particularly in light of recent bulk sample engagements. The funds raised will support various projects aimed at uncovering substantial discovery potential.
In addition to the exploration funding, Sokoman Minerals may compensate certain participants with finders' fees in cash and broker warrants, contingent upon approvals from the TSX Venture Exchange.
