Vancouver, British Columbia--(Newsfile Corp. - October 7, 2026) - Axion Minerals Corp. (CSE: AXN) ("Axion Minerals", "Axion" or the "Company") is pleased to announce that it has closed its previously announced non-brokered flow-through private placement (the "Private Placement") for aggregate gross proceeds of $390,000.
Pursuant to the Private Placement, the Company issued 3,000,000 flow-through units (the "FT Units") at a price of $0.13 per FT Unit. Each FT Unit consisted of one "flow-through" common share in the capital of the Company (each, an "FT Share") and one non-flow-through common share purchase warrant (each, a "Warrant").
Each Warrant entitles the holder to acquire one non-flow-through common share in the capital of the Company (each, a "Warrant Share") at an exercise price of $0.14 per Warrant Share for a period of 24 months from the date of issuance.
The gross proceeds from the Private Placement will be used to incur eligible Canadian exploration expenses that are intended to qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) in connection with exploration activities at the Company's mineral exploration projects. The proceeds will allow Axion to advance exploration at Cranberry Creek as the Company continues to evaluate the property's rare earth element potential and identify priority areas for further exploration.
The securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable United States state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Axion Minerals Corp.
Axion Minerals Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic mineral properties of merit and to conduct its exploration program on the Cranberry Creek REE property, which is comprised of three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops Mining Division, British Columbia.
On Behalf of Axion Minerals Corp.
Christopher Hill
Chief Executive Officer
For further information, please contact:
Email: christopherwilliamhill@gmail.com
Tel: 1 (778) 837-7191
Cautionary Statement
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the expected use of proceeds from the Private Placement, planned exploration activities at the Cranberry Creek REE property and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.
Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words, including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks relating to the Company's exploration activities, delays in obtaining governmental and regulatory approvals or permits, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's Prospectus and other filings with the Canadian Securities Authorities.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
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