TORONTO, April 11, 2025 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) ("Mink" or the "Company") announces it has closed the first tranche of its non-brokered private placement (the "Offering") announced on March 13, 2025. The Company has raised gross proceeds of $190,000 from the issuance of 1,487,900 hard dollar units (the "HD Units") at a price of $0.10 per HD Unit and the issuance of 317,000 CMETC eligible flow-through units (the "FT Units") at a price of $0.13 per FT Unit in this first tranche. A second and final closing of the Offering is expected to occur on April 25, 2025.

Each HD Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("HD Warrant"). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

Each FT Unit consists of one Common Share of the Company (a "FT Share") and one Common Share purchase warrant ("FT Warrant"). Each FT Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on August 12, 2025. The Private Placement is subject to obtaining final approval of the TSX Venture Exchange.

The FT Shares are to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the portion of the subscription price that is directly attributable to the consideration paid for the subscription and issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), and (ii) "flow-through critical mineral mining expenditures" (as defined ...