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Mammoth Resources Upsizes Private Placement to $980,000 Due to High Demand
Toronto, Canada — July 17, 2025 — NewsWall — Mammoth Resources Corp. (TSX-V: MTH) has announced an increase to its previously announced non-brokered private placement. The company has received conditional approval from the TSX to upsize the placement to up to 39 million units, with gross proceeds reaching up to $980,000, due to additional demand.
The upsized private placement mirrors the terms of the original announcement, with each unit comprising one common share and one-half common share purchase warrant. Each warrant allows the holder to acquire one common share at an exercise price of $0.05 until eighteen months after the private placement closes. Mammoth Resources has not set a minimum number of units to be distributed or a minimum dollar amount to be raised.
The proceeds from the private placement are earmarked for advancing the Tenoriba precious metal project in Chihuahua State, Mexico, assessing potential project acquisitions, and supporting working capital. This private placement is limited to accredited investors. Approximately 60% of the proceeds will go towards the Tenoriba project and evaluating acquisitions, while the remaining 40% will bolster working capital.
Securities issued under this private placement will be subject to a four-month hold period. The company may pay finder's fees on a portion of the private placement, adhering to applicable securities laws and TSX Venture Exchange policies. The pricing of this private placement was granted under the Venture Exchange Discretionary Waiver Bulletin, set at $0.025/share, reflecting a premium over the 10-day volume-weighted average share price.
Thomas Atkins, President and CEO of Mammoth, can be contacted at tr_atkins@rogers.com or by telephone at 416 509-4326 for those interested in participating in this financing.
About Mammoth Resources:Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining-friendly jurisdictions in the Americas.