Carmanah Minerals Corp. announced the appointment of Mr. Karim Rayani as a Strategic Advisor and Arranger to the Company. For the past 18 years, Mr. Rayani has been focused on financing both international and domestic mineral exploration and development.

Currently, Mr. Rayani is a principal of R7 Capital Ventures Ltd., an investment family office firm with a diverse portfolio covering Natural Resources, Energy, Cleantech, Renewables, and Health related ventures all with a focus on Public Venture Capital. Prior to this, he worked independently as a Management Consultant and Financier. Presently, he also serves as Chief Executive Officer, Director of Falcon Gold Corp., Chairman, Chief Executive Officer, Director of Power One Resources Corp., Chief Executive Officer, Director of Latamark Resources Corp., Chief Executive Officer, Director of Marvel Discovery Corp., Chairman, Director of District 1 Exploration Corp., and Chief Executive Officer, Director of Auvega Labs Inc. The Company notes that R7 Capital Ventures Ltd., a company controlled by Mr. Rayani subscribed to the Companys most recent private placement offering as lead order, subscribing to 1,536.60 million units.

The offering closed on May 04, 2023. Mr. Rayani now holds directly or indirectly, 3,563,601 Shares, 1,536,601 Warrants, and 215,000 Options, representing 18.04% of Carmanahs current issued and outstanding common shares on a non-diluted basis, or 24.71% on a partially diluted basis (assuming the exercise of the Warrants and Options).