SLAM Exploration Ltd. Raises $689,000 in Private Placement

SLAM Exploration Ltd. has successfully closed the first tranche of a non-brokered private placement, generating $689,000. This was achieved through the issuance of 1,722,500 units at $0.40 per unit. Each unit comprises four flow-through shares, one non-flow-through share, and 2.5 purchase warrants. These warrants allow the holder to purchase an additional share at $0.12 within two years.

The flow-through shares will fund Canadian Exploration Expenses in New Brunswick, qualifying for a 30% tax credit. Proceeds from non-flow-through shares will support corporate activities. The offering is pending final regulatory approvals and is not open to U.S. investors.

Insider participation included the acquisition of 335,000 units. No formal valuation was required, given transactions were within regulatory thresholds.