Ottawa, Ontario--(Newsfile Corp. - October 1, 2025) - Mayo Lake Minerals Inc. (CSE: MLKM) is pleased to announce a Private Placement consisting of any combination of common share units ('CS Units) and flow-through units ('FT Units') totaling up to $300,000, with a proposed closing date of October 17 subject to the discretion of the directors. The securities will be offered for sale to eligible purchasers on a 'best efforts basis' in all provinces and territories of Canada pursuant to available prospectus exemptions and is subject to the approval of the Canadian Securities Exchange. Interested investors will be provided a Term Sheet on request. A summary of the offering is provided below.
Each CS Unit is priced at $0.05 and consists of one common share and one-half common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one common share at a price of $0.07 for a period of 36 months from the closing date.
Each FT Unit is priced at $0.05 and consists of one flow-through share (a "FT Share") and one-half common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.08 for a period of 36 months from the closing date. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act.
CS Unit funds will primarily be used to cover working capital and general operating costs while FT Unit funds will be used for eligible exploration expenditures qualifying as "CEE" under the Income Tax Act and applicable regulations. The securities issued pursuant to the Offering will be subject to a statutory hold period in Canada of four (4) months and one day after the Closing Date. Purchasers should consult their legal advisors in this regard.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
About Mayo Lake Minerals Inc. Mayo is actively engaged in the exploration of four precious metal projects in the Tombstone Gold Belt. The properties cover 188 square kilometres in the Yukon's Mayo Mining District and lie within the traditional territory of the Na-Cho Nyäk Dun First Nation. The area is currently buzzing with activity as a result of recent gold discoveries that have propelled the region into the spotlight. Readers can access property descriptions at https://www.mayolakeminerals.com/.
For additional information, please contact.
Vern Rampton, Ph.D., P.Eng. CEO and Chairman; vrampton@mayolakeminerals.com Tel. 613-836-2594
Darrell Munro, BBA, LL.B Corporate Administrator dmunro@mayolakemineraals.com Tel. 613-836-2594
Lee Bowles, Director: lbowles@ironstonecapital.ca. Tel. 011 3462 466 9063
NOT TO BE DISTRIBUTED TO NEWS WIRE SERVICES OR DISSEMINATED
IN THE UNITED STATES OF AMERICA
Cautionary Statement Regarding Forward-Looking Information. This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. The forward-looking statements and information are based on certain key expectations and assumptions made by management of Mayo. Although management of Mayo believe that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of Mayo relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268703
SOURCE: Mayo Lake Minerals Inc.
