Iconic Minerals Ltd. Finalizes Non‑Brokered Private Placement Raising $3.75 M

Iconic Minerals Ltd. (TSXV: ICM, OTCQB: ICMFF, FSE: YQG) announced that it has closed a non‑brokered private placement, generating gross proceeds of $3,750,000. The financing involved the sale of up to 30 million units at a price of $0.125 per unit. Each unit comprised one common share and one common share purchase warrant, which allows the holder to buy an additional common share at an exercise price of $0.17 for a period of two years.

Structure of the Offering

  • Units issued – 30 million units (each unit = one common share + one warrant).
  • Unit price – $0.125.
  • Warrants – Entitle holders to purchase one additional share at $0.17.
  • Acceleration clause – If the company’s common share closes at $0.35 or higher for at least ten non‑consecutive trading days starting four months after the closing, the company may accelerate the warrants’ expiry to 30 days after giving notice.
  • Finders’ compensation – $57,881 in cash and 463,000 finders’ warrants, each exercisable at $0.40 for two years, also subject to the acceleration clause.

All securities are subject to a four‑month hold period in Canada and have not been registered under U.S. securities laws, limiting their sale to non‑U.S. persons.

Use of Proceeds

The raised capital will be allocated to:

  1. Exploration program at the New Pass gold property, Nevada – drilling and related expenditures.
  2. General working capital – supporting ongoing operations and corporate needs.

Regulatory Compliance

The financing is pending final acceptance by the TSX Venture Exchange and complies with the exchange’s policies. The company has provided disclosures through its website (www.iconicminerals.com ) and public documents available at www.sedarplus.ca .

Market Context

At the close on 2026‑01‑21, Iconic Minerals’ share price stood at CAD 0.25, within a 52‑week range of CAD 0.01 to CAD 0.33. The company’s market capitalization is approximately CAD 40.4 million, and its price‑earnings ratio is –130, reflecting its exploratory status and lack of earnings.

This funding round marks a significant step in Iconic Minerals’ strategy to expand its exploration footprint and advance its gold projects in the United States.