Mosaic Minerals Corp. announced a private placement of 7,962,500 flow-through units at a price of CAD 0.08 for gross proceeds of CAD 637,000 on December 5, 2023. Each unit consists of one flow-through common share and one-half common share warrant.

Each whole warrant can be exercised to purchase one Share at a price of CAD 0.12 per share for a period of 18 months ending June 4, 2025. An aggregate number of 3,981,250 warrants have been issued as part of the offering. A 7% cash commission will be paid to an unrelated third party as an intermediary.

The transaction was oversubscribed.