Mink Ventures Closes $731,518 in First Tranche of Non-Brokered Private Placement
TORONTO, Oct. 16, 2025 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“Mink” or the “Company“) announces it has closed the first tranche of its non-brokered private placement (the “Offering’) announced on September 25, 2025. The Company has raised gross proceeds of $731,518 from the issuance of 4,810,000 hard dollar units (the “HD Units“) at a price of $0.10 per HD Unit and the issuance of 1,927,061 CMETC eligible flow-through units (the “FT Units”) at a price of $0.13 per FT Unit in this first tranche. A second and final closing of the Offering is expected to occur in late October.
Each HD Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (“HD Warrant”). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
Each FT Unit consists of one Common Share of the Company (a “FT Share”) and one Common Share purchase warrant (“FT Warrant”). Each FT Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on February 17, 2026. The Private Placement is subject to obtaining final approval of the TSX Venture Exchange.
Certain directors and officers of the Company purchased an aggregate of 300,000 HD Units and 260,000 FT Units pursuant to the Private Placement, constituting a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction will be exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the Related Parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101)
The Company paid aggregate cash finder’s fees totaling $39,962.15 and issued 380,508 in non-transferable finder’s warrants (the “Finder’s Warrants“). Each Finder’s Warrant entitles the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20. All of the finder’s fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies
The Company plans to use the net proceeds raised from the sale of the HD Units and FT Units under the Offering for the exploration and advancement of the Company’s Montcalm nickel copper cobalt project, the Warren copper nickel project and, in respect of the HD Unit proceeds, for general working capital purposes.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink’s flagship Montcalm Project covers 100 km2 adjacent to Glencore’s former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its 100% owned, Warren Ni Cu Co Project, which covers 1,130 hectares is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance from this tranche of the Private Placement, the Company has 32,415,949 Common Shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca
Forward Looking Statements
This press release includes certain “forward-looking statements” under applicable Canadian securities legislation, including, but not limited to, statements with respect to the completion of the second tranche of the Offering, the proposed use of proceeds, the exploration potential of the Company’s mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
