1546139 B.C. Ltd. Closes Private Placement
July 17, 2025 6:25 PM EDT | Source: Venerable Ventures Ltd.
Vancouver, British Columbia and Pelly Crossing, Yukon--(Newsfile Corp. - July 17, 2025) - 1546139 B.C. Ltd. ("FinanceCo"), is pleased to announce the closing of its non-brokered private placement (the "Offering") for gross proceeds of $3,099,960.08.
FinanceCo, a wholly owned subsidiary of Venerable Ventures Ltd. ("VLV"), has issued a total of 11,071,286 subscription receipts (the "Subscription Receipts") at a price of $0.28 per Subscription Receipt. Each Subscription Receipt will automatically convert into one common share of VLV upon closing of the proposed transaction to acquire a 100% interest in the Minto copper-gold mine in Yukon (the "Transaction"), as announced by VLV on June 30, 2025. The Offering and the Transaction remain subject to final approval of the TSX Venture Exchange (the "TSXV") and satisfaction of the applicable closing conditions.
Upon final approval of the Transaction by the TSXV and satisfaction of all applicable closing conditions, each Subscription Receipt will convert into one common share of VLV without further payment or action by the holder.
The proceeds of the Offering will be immediately used to fund the start of the 2025 exploration program at the Minto Project, to pay certain obligations inherited with the Project (including government property taxes and lease payments), for transaction costs and general working capital. The Offering was completed on a fully at-risk basis. In the event that the Transaction does not close, the subscription funds will be not be returned to holders and subscribers may lose their entire investment.
No finders' fees were paid in connection with the Offering.
About Selkirk First Nation
Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280km north of Whitehorse. Selkirk is a self-governing First Nation, having signed its Final and Self-Government Agreements in 1997. Selkirk owns 4,740 square kilometres of Settlement Land, including 2,408 square kilometers where Selkirk owns both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in the Yukon.
On behalf of the Board of Directors of Venerable Ventures Ltd.,
Alan Macdonald
President and CEO
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.
Cautionary Statement Regarding Forward-Looking Information
Certain statements and information herein contain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include but are not limited to statements or information with respect to: the Project, the Transaction and Offering.
Although management of the company believe that the assumptions made and the expectations represented by such forward-looking statements are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: the Transaction and Offering may not close on the terms set forth herein, or at all; in the event that the Transaction does not close, subscribers to the Offering may lose their entire investment; risks relating to the receipt of all requisite approvals for the proposed Transaction and Offering; the Project may never become a commercially viable mining operation; changes in general economic conditions or conditions in the financial markets; and risks related to general economic conditions.
The company does not undertake to update any forward-looking information, except in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259197
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