Mr. Robert Edwards reports
AFFINITY METALS CORP. COMPLETES $180,000 NON-BROKERED PRIVATE PLACEMENT
Affinity Metals Corp. has closed its non-brokered private placement previously announced on May 9, 2025. Under the offering, the company has issued 12 million units at a price of 1.5 cents per unit for gross proceeds of $180,000. Please see the May 9, 2025, news release for further information on the offering.
All securities issued under the offering are subject to a hold period expiring Sept. 17, 2025, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
Certain directors and officers of the company participated in the offering and purchased an aggregate of 6.2 million units for aggregate gross proceeds of $93,000. Participation by insiders in the offering is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insiders did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the offering as participation of the insiders had not been confirmed at that time.
About Affinity Metals Corp.
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America. The company currently holds the Regal property near Revelstoke, B.C., and the Windfall North property located adjacent to Osisko's Windfall project in Quebec.
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