Sokoman Minerals Corp. Announces Non-Brokered Flow-Through Private Placement
St. John’s, NL, April 25, 2025 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (“Sokoman” or the “Company”) today announces a non-brokered private placement of flow-through ("FT") shares (the "Private Placement") for gross proceeds of up to CAD$400,000. The Private Placement is expected to close on or before May 7, 2025.
The Private Placement is priced at CAD$0.05 per FT share, with each flow-through common share of the Company entitling the holder to receive the tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada).
The first closing of CAD$300,000 is imminent.
All securities issued pursuant to the Private Placement will be subject to a four-month and one-day hold period.
"While our team has been fully engaged with the two bulk samples recently, we are looking forward to continuing our exploration on our other projects, as we believe they hold significant discovery potential," remarked Tim Froude, P.Geo., President and CEO of Sokoman.
In connection with the Private Placement, the Company may pay finders' fees in cash and broker warrants as permitted by the policies of the TSX Venture Exchange (the "Exchange"). The Private Placement is subject to Exchange approval.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") on or before December 31, 2026, and to renounce all of the Qualifying Expenditures in favour of the subscribers of the FT shares.
The Company intends to spend CAD$400,000 of the flow-through proceeds on our exploration projects.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland.
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. For full details of the agreement, please refer to the Company's press release dated October 11, 2023.
Projects optioned with optionee fully vested are:
East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus 1% NSR)
Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus 1% NSR)
The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program during the past few years.s
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
E: tim@sokomanmineralscorp.com
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp
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 release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
