Iconic Minerals Ltd. (TSXV: ICM,OTC:ICMFF) (OTCQB: ICMFF) (FSE: YQG) (the “Company” or “Iconic”) announces that the Company will proceed with its previously announced non-brokered private placement (see press release dated October 17, 2025) under amended terms. Under the amended terms, the unbrokered private placement will consist of up to 30,000,000 units (each a “Unit”) at a price of $0.125 per Unit for gross proceeds of up to $3,750,000 (the “Financing”). Each Unit will consist of one common share and one full common share purchase warrant (“Warrant”), with each Warrant entitling the holder thereof to purchase one additional common share at an exercise price of $0.17 per share for a period of two (2) years from the date of issuance. In the event that the Company’s common shares trade at a closing price of $0.35 per common share or more for a minimum period of 10 non-consecutive trading dates beginning four months after the closing of the Financing, the Company may accelerate the expiration date of the Warrants by notice to the holders thereof and in such event the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
Proceeds will be used for expenses necessary to drill and advance the Company’s exploration program at its New Pass gold property in Nevada, and for general working capital purposes.
The Company may pay finder’s fees in connection with the financing in accordance with the rules and policies of the TSX Venture Exchange (the “TSXV“), and all securities issued under the Financing are subject to a hold period of four months and one day in Canada. The closing of the Financing is subject to the approval of the TSXV.
The securities offered have not been and will not be registered under the United States Securities Act of 1933 (the “US securities law“), as amended, or any applicable state securities laws, and may not be offered or sold within the United States or to “US Persons”, as that term is defined in Regulation S under the US Securities Act, absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
“Richard Barnett”
For more information about Iconic, please visit our website at www.iconicminerals.com
The company’s public documents can be accessed at www.sedarplus.ca
For more information about Iconic, please visit our website at www.iconicminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, contained herein, including but not limited to statements regarding the completion of the financing and the use of proceeds therefrom, and the Company’s future plans, are forward-looking statements. Although the Company believes such statements to be reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are generally identified by words such as: “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “may,” “should,” “would,” “will,” “potential,” “planned” or variations of such words and phrases and similar expressions, which by their nature refer to future events or results that may, could, would, could or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, the need for additional capital, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for raw materials, lack of investor interest in future financing, accidents, labor disputes and other risks of mining, delays in obtaining government approvals (including TSXV acceptance), permits or financing or upon the completion of development or construction activities, risks relating to epidemics or pandemics, including the impact of any such epidemic or pandemic on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, ownership disputes, the timing and potential outcome of pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company’s annual and quarterly management discussions and analyzes and in other documents filed by the Company with the Canadian securities regulatory authorities under the Company’s profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update the forward-looking statements contained in this press release or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279512
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