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Akwaaba Mining Ltd. Announces Closing of Private Placement

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Akwaaba Mining (TSXV: AML) has successfully closed its previously announced non-brokered private placement, raising $150,000 CAD through common shares priced at $0.11 per share. The company's CEO and director, Allan Green, participated in the offering, constituting a related party transaction under MI 61-101, though exempt from formal valuation and minority shareholder approval requirements.

The shares issued will be subject to a statutory hold period until July 26, 2025. The TSX Venture Exchange has approved the offering, with no bonuses, finder's fees, or commissions payable. The proceeds will fund ongoing exploration at the Akorade project in Ghana, provide working capital, and support future acquisitions.

Akwaaba Mining (TSXV: AML) ha chiuso con successo il collocamento privato non mediato precedentemente annunciato, raccogliendo 150.000 CAD attraverso azioni ordinarie a un prezzo di $0,11 per azione. Il CEO e direttore dell'azienda, Allan Green, ha partecipato all'offerta, costituendo una transazione con parti correlate ai sensi della MI 61-101, sebbene esente da valutazione formale e requisiti di approvazione da parte degli azionisti di minoranza.

Le azioni emesse saranno soggette a un periodo di blocco legale fino al 26 luglio 2025. La Borsa di Toronto Venture ha approvato l'offerta, senza bonus, commissioni di intermediazione o commissioni da pagare. I proventi finanzieranno l'esplorazione in corso presso il progetto Akorade in Ghana, forniranno capitale circolante e supporteranno future acquisizioni.

Akwaaba Mining (TSXV: AML) ha cerrado con éxito su colocación privada no mediada previamente anunciada, recaudando $150,000 CAD a través de acciones comunes a un precio de $0.11 por acción. El CEO y director de la empresa, Allan Green, participó en la oferta, constituyendo una transacción con partes relacionadas bajo MI 61-101, aunque exenta de evaluación formal y requisitos de aprobación de accionistas minoritarios.

Las acciones emitidas estarán sujetas a un período de retención legal hasta el 26 de julio de 2025. La Bolsa de Valores de Toronto Venture ha aprobado la oferta, sin bonificaciones, honorarios de intermediarios o comisiones a pagar. Los ingresos financiarán la exploración en curso en el proyecto Akorade en Ghana, proporcionarán capital de trabajo y apoyarán futuras adquisiciones.

Akwaaba Mining (TSXV: AML)은 이전에 발표된 비중개 사모 배급을 성공적으로 마감하고, 주당 $0.11의 가격으로 보통주를 통해 150,000 CAD를 모금했습니다. 회사의 CEO이자 이사인 Allan Green은 MI 61-101에 따른 관련 당사자 거래로서 이 제안에 참여했으며, 공식 평가 및 소수 주주 승인 요건에서 면제되었습니다.

발행된 주식은 2025년 7월 26일까지 법적 보유 기간에 해당됩니다. TSX 벤처 거래소는 보너스, 중개 수수료 또는 지급할 수수료 없이 이 제안을 승인했습니다. 수익금은 가나의 Akorade 프로젝트에서 진행 중인 탐사를 자금 지원하고, 운영 자본을 제공하며, 향후 인수를 지원합니다.

Akwaaba Mining (TSXV: AML) a réussi à clore son placement privé non médié par un courtier, levant 150 000 CAD grâce à des actions ordinaires au prix de 0,11 $ par action. Le PDG et directeur de l'entreprise, Allan Green, a participé à l'offre, constituant une transaction avec des parties liées selon la MI 61-101, bien qu'exempte d'évaluation formelle et d'approbation des actionnaires minoritaires.

Les actions émises seront soumises à une période de blocage légale jusqu'au 26 juillet 2025. La Bourse de Toronto Venture a approuvé l'offre, sans bonus, frais de recherche ou commissions à payer. Les produits financeront l'exploration en cours du projet Akorade au Ghana, fourniront du fonds de roulement et soutiendront de futures acquisitions.

Akwaaba Mining (TSXV: AML) hat erfolgreich die zuvor angekündigte nicht vermittelte Privatplatzierung abgeschlossen und 150.000 CAD durch Stammaktien zu einem Preis von 0,11 $ pro Aktie gesammelt. Der CEO und Direktor des Unternehmens, Allan Green, nahm an dem Angebot teil, was eine Transaktion mit nahestehenden Personen gemäß MI 61-101 darstellt, jedoch von einer formalen Bewertung und der Genehmigung durch Minderheitsaktionäre befreit ist.

Die ausgegebenen Aktien unterliegen einer gesetzlichen Haltedauer bis zum 26. Juli 2025. Die TSX Venture Exchange hat das Angebot genehmigt, ohne Boni, Vermittlungsgebühren oder zu zahlende Provisionen. Die Erlöse werden die laufende Erkundung des Akorade-Projekts in Ghana finanzieren, Betriebskapital bereitstellen und zukünftige Akquisitionen unterstützen.

Positive
  • Successfully closed $150,000 CAD private placement
  • TSX Venture Exchange approval obtained
  • No finder's fees or commissions payable, maximizing use of funds
  • Secured funding for Akorade project exploration in Ghana
Negative
  • Dilutive effect of new share issuance at $0.11 per share
  • Related party transaction with CEO participation may raise governance concerns

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) - Akwaaba Mining Ltd. (TSXV: AML) ("Akwaaba" or the "Company") previously announced its non-brokered private placement of up to $150,000.00 CAD in common shares at a purchase price of $0.11 per share (the "Offering") on February 28, 2025.

The Company is pleased to announce that it has closed on the Offering. No new control persons were created because of the closing of the Offering.

The Offering was approved by the TSX Venture Exchange. No securities were issued as bonuses and no finder's fees or commissions are payable.

Certain shares of the proposed Offering will be issued directly or indirectly to Allan Green, CEO and director of the Company, who will participate in the financing. Mr. Green's participation in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has determined that the transaction will be exempt from formal valuation and minority shareholder approval requirements under MI 61-101, relying on exemptions found in sections 5.5(a), 5.5(b), 5.5(c), 5.7(1)(a) and 5.7(1)(b). Mr. Green is an existing control person of the Company and no new control persons will be created as a result of the Offering.

All the disinterested directors of the Company, being all of the directors other than Mr. Green, approved the Offering.

The common shares issued in connection to the Offering will be subject to a statutory hold period of four (4) months and one (1) day, July 26, 2025, as well as any other restrictions imposed by applicable securities regulatory authorities.

As previously announced, proceeds of the Offering will be used to fund the ongoing exploration program at the Company' s Akorade project in Ghana, for working capital and for future acquisitions.

For further information, please contact:

"Iyad Jarbou"
Chief Financial Officer
Tel: 604.362.7685
Email: iyad@akwaaba-mining.com
Website: https://akwaaba-mining.com/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. For more information on the Company, Investors should review the Company's filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246034

FAQ

How much did Akwaaba Mining (TSXV: AML) raise in their recent private placement?

Akwaaba Mining raised $150,000 CAD through a non-brokered private placement at $0.11 per common share.

What is the hold period for shares issued in Akwaaba Mining's March 2025 private placement?

The shares have a statutory hold period of 4 months and 1 day, ending July 26, 2025.

How will Akwaaba Mining use the proceeds from their $150,000 private placement?

The proceeds will fund exploration at the Akorade project in Ghana, provide working capital, and support future acquisitions.

Did Akwaaba Mining's CEO participate in the March 2025 private placement?

Yes, CEO Allan Green participated in the financing as a related party transaction, exempt from certain MI 61-101 requirements.
Akwaaba Mining

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