Casa Minerals Announces Closing of First Tranche of Private Placement

Rhea-AI Summary

Casa Minerals Inc (TSXV: CASA) (OTC Pink: CASXF) has completed the first tranche of its non-brokered private placement, raising $250,000 through the issuance of 4,545,455 flow-through units at $0.055 per unit. Each unit includes one common share and one-half common share purchase warrant, with 2,272,727 warrants exercisable at $0.075 until March 17, 2027.

The company's President & CEO, Mr. Shrivani, subscribed for all 4,545,455 flow-through units. The proceeds will fund exploration and development activities on Casa's projects in BC, Canada. The securities are subject to a 4-month hold period, and no finder's fees were paid. The private placement completion remains subject to TSX Venture Exchange approval.

Positive

• Secured $250,000 in new funding for exploration activities
• 100% subscription by CEO demonstrates management confidence
• Two-year warrant term provides potential additional funding at $0.075 per share

Negative

• Small offering size indicates funding scope
• Dilutive impact on existing shareholders
• Heavy reliance on insider funding suggests possible external investor interest

Vancouver, British Columbia--(Newsfile Corp. - March 17, 2025) - Casa Minerals Inc. (TSXV: CASA) (OTC Pink: CASXF) (FSE: 0CM) (the "Company" or "Casa"), is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the "Offering"). The Company has closed on a total of 4,545,455 flow-through units ("FT Units") at a price of $0.055 per flow-through unit for gross proceeds of up to $250,000.

The FT Units consist of one common share and one-half common share purchase warrant (each full warrant, a "Warrant"). Each of the 2,272,727 Warrants will be exercisable at a price of $0.075 until March 17, 2027.

Net proceeds from the Offering will be used for exploration and development activities on the Company's projects BC, Canada.

All Flow-through Shares and Warrants comprising the Flow-through Units, will be subject to a 4-month and one day hold period, during which any resale or other transfer will be restricted in accordance with applicable securities laws.

No Finder's Fees were paid on this tranche.

The completion of the private placement remains subject to approval of the TSX Venture Exchange.

This tranche includes the subscription of, Mr. Shrivani, President & CEO of the Company. He subscribed for 4,545,455 flow-through units. As a result, the issuance of Units to Mr. Shirvani is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of Casa Minerals Inc.'s market capitalization.

None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

About Casa Minerals Inc.

The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona, USA). Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property (BC, Canada).

On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO

For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
Email: contact@casaminerals.com
https://www.casaminerals.com

NEITHER 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244956

FAQ

How much did Casa Minerals (CASXF) raise in their latest private placement tranche?

Casa Minerals raised $250,000 through 4,545,455 flow-through units priced at $0.055 per unit.

What are the terms of CASXF's warrant offering in March 2025?

The offering includes 2,272,727 warrants exercisable at $0.075 per share until March 17, 2027.

How many flow-through units did Casa Minerals' CEO subscribe to?

CEO Mr. Shrivani subscribed to all 4,545,455 flow-through units in the offering.

What is the hold period for Casa Minerals' (CASXF) new securities?

The securities have a 4-month and one day hold period with restricted transfer under securities laws.