Toronto, Ontario – March 24, 2026 Velox Energy Materials Inc. (TSXV: VLX) (“Velox” or the “Company”) is pleased to announce that is has completed a non-brokered private placement financing (the “Private Placement”) of 89,296,272 units of the Company (the “Units”) at a price of $0.035 per Unit, for gross proceeds of up to $3,125,369.52.
Each Unit consisting of one common share in the capital of the Company (each, a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one additional Common Share at a price of $0.05 for a period of 24 months from the date of issuance, in accordance with TSX Venture Exchange policies.
The net proceeds of the Offering will be used to fund the evaluation and due diligence of potential resource opportunities consistent with the Company’s existing business strategy, current project commitments, regulatory, professional and corporate administration costs, and for general working capital purposes. None of the proceeds will be used for investor relations service providers or payments to non-arms length parties. No new insiders have been created, nor will any change of control occur as a result of the closing of the financing.
All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
A director of the Company has participated in the Private Placement for 3,796,272 units and such participation constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a), as neither the fair market value of the Units to be issued to insiders, nor the consideration for such Units, exceeds 25% of the Company’s market capitalization
In connection with the Private Placement, the Company will pay a finder’s fees of 6% cash and 6% finders warrants (“Finders’ Warrants”) to Argonaut Securities Pty Limited. Each Finder Warrant entitles the holder to acquire one common share at a price of $0.05 per share for a period of 24 months from the Closing Date.
Approved by the Board of Velox Energy Materials Inc.
Nicole Morcombe
Director Email: ua.mo1776077660c.sla1776077660ireta1776077660mxole1776077660v@ebm1776077660ocrom1776077660n1776077660
