Halifax, Nova Scotia--(Newsfile Corp. - June 11, 2025) - Zephyr Minerals Ltd. (TSXV: ZFR) ("Zephyr" or the "Company") is pleased to announce that it intends to issue, by way of a non-brokered private placement financing, up to 8,000,000 units (each a "Unit") at a price of $0.04 per unit for gross proceeds of $320,000 (the "Private Placement"). Each Unit consists of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant") of the Company. Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.08 for a period of three (3) years from issuance.
Proceeds received from the Private Placement will be used for general working capital purposes and to advance permitting on the Dawson Gold project. It is anticipated that certain insiders of the Company will participate in the Private Placement.
Finder's fees of cash and Warrants issued on the same terms as noted above may be paid to qualified parties. All securities will be subject to a statutory hold period of four months and one day.
The Private Placement remains subject to customary closing conditions, including approval from the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Zephyr Minerals Ltd.
Zephyr Minerals is mission focused on obtaining a mining permit for its 100% owned Dawson Gold project in Colorado with the view to continuing to advance this project to the next stage of development. The Company continues to review gold properties for potential acquisition and/or joint venture throughout Zimbabwe as these are received from third parties. The Company continues to wait for the Zimbabwean Government to grant two Exclusive Prospecting Orders ("EPO"), covering 124,000 hectares applied for in 2021. The areas covered by the EPO applications are prospective for gold and lithium.
For further information please contact:
Loren Komperdo, President & CEO
T: 902 706-0222
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
