Subject: ProAm Explorations / News Release
Word Document
File: '\\swfile\EmailIn\20260415 053148 Attachment PMX_NR260415.docx'
ProAm
TSX-V:PMX
NEWS RELEASE
Vancouver, British Columbia, April 15, 2026 - ProAm Explorations Corporation ("ProAm" or "the Corporation") (TSX.V:PMX) is pleased to announce that the private placement originally announced on March 25, 2026, March 26, 2026, and March 31, 2026, has been increased from $525,000 to $531,800 for an aggregate 3,545,333 Units.
As previously announced, ProAm closed a first tranche of the private placement on 1,833,333 for gross proceeds of $275,000. The Company anticipates closing a second and final tranche of the private placement consisting of 1,712,000 Units. Each Unit consists of one share and one-half of one transferable share purchase warrant ("Warrant"), with each whole Warrant being exercisable at a price of $0.20 for 2 years from the date of issuance.
The funds will be used for general working capital purposes and project related historical data compilation and interpretation.
Jason Cubitt, the CEO of the Corporation, will subscribed for 1,500,000 Units for gross proceeds of up to $225,000 in the second tranche closing of the Private Placement. The issuance of Units to Mr. Cubitt pursuant to the Private Placement is considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Private Placement by insiders will not exceed 25% of the fair market value of the Company's market capitalization. The Company will file a material change report in respect of the related party transactions in connection with the Private Placement.
The Private Placement received conditional approval from the TSX Venture Exchange ("TSXV") and is subject to final approval of the TSXV.
On behalf of the Board of Directors of
ProAm Explorations Corporation
Jason Cubitt
Chief Executive Officer
Email: info@pmx-corp.com
Tel: 604-209-1658
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
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