VANCOUVER, BC / ACCESS Newswire / December 16, 2025 / Linear Minerals Corp. ("Linear" or the "Company") (CSE:LINE)(OTCQB:LINMF) (WKN: A40 Y3E) is pleased to announce it has closed the first tranche of the non-brokered private placement previously announced on December 10, 2025 for gross proceeds of up to $900,000. As part of the closing the first tranche, the Company will issue 3,000,000 flow-through common shares at a price of $0.05 cents per share for gross proceeds of $150,000. In addition, the Company will issue 3,000,000 hard-dollar units at a price of $0.05 cents per share and one common share purchase warrant for gross proceeds of $150,000. Each hard-dollar warrant entitles the holder to purchase one common share at a price of 25 cents for a period of one year from the issue date and will pay 6% cash in finder's fee of $9,000.
Final closing of the private placement is subject to obtaining all required approvals, including from the CSE, and any other regulatory approval. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The proceeds from the private placement will be used for general working capital and to its further exploration efforts on its properties located in Quebec
ON BEHALF OF THE BOARD OF
LINEAR MINERALS CORP.
"Gurminder Sangha"
Gurminder Sangha
CEO & Director
For further information, please contact the Company at info@linearminerals.com
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Disclaimer for Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE: Linear Minerals Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/linear-minerals-corp-closes-first-tranche-of-private-placement-financing-1118403
