(TheNewswire)
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Toronto, Canada – TheNewswire - (July 17 2025) - Mammoth Resources Corp. (TSX-V: MTH), (the “Company”, or “Mammoth”) would like to announce that due to additional demand, the Company has requested and received conditional approval from the TSX to upsize its previously announced non-brokered private placement of up to 30 million units of the Company (the "Units") at an offering price of $0.025 per Unit, for gross proceeds of up to $750,000 (the "Private Placement") to up to 39 million Units, for gross proceeds of up to $980,000. The upsized Private Placement is at the same terms as the previous announcement, wherein each Unit consists of one common share of the Company (a "Common Share") and one-half common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share until eighteen months following closing of the private placement, at an exercise price of $0.05. The Company has set no minimum number of Units to be distributed and no minimum dollar amount required to be raised in connection with the Private Placement. The gross proceeds of the Private Placement will be used to advance the Company's Tenoriba precious metal project in Chihuahua State, Mexico, to evaluate potential project acquisitions and support working capital needs.
The Private Placement
This Private Placement is available to accredited investors. The pricing of this Private Placement was granted under the Venture Exchange Discretionary Waiver Bulletin (“Bulletin”). Under the conditions of the Bulletin, the pricing of the Private Placement was set by the Company’s closing share price of $0.025/share, the day prior to the original announcement. The pricing of the Private Placement represents a small premium from the 10-day volume-weighted average share price during the previous 10 trading days of $0.022/share from the date of the original announcement. Securities issued under this Private Placement will be subject to a four-month hold period. In accordance with the requirements of the Investment Dealer Exemption, the Company confirms there is no material fact or material change related to the Company which has not been disclosed. The Company has been granted conditional approval for this Private Placement; however, closing of this Private Placement is subject to receipt of all required regulatory and Exchange approvals. The Company may pay a finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
From the gross proceeds of the Private Placement, approximately 60% are intended to be used to advance the Company's Tenoriba precious metal project in Chihuahua State, Mexico and to evaluate potential project acquisitions, with the remaining 40% intended to support working capital needs.
Anyone interested in participating in this financing are encouraged to contact Thomas Atkins, President and CEO of Mammoth at: tr_atkins@rogers.com or by telephone at: 416 509-4326.
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. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above-average potential for economic concentrations of precious metals mineralization.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at: www.mammothresources.ca., or contact Thomas Atkins, President and CEO.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
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