Announcement • Jul 13
Search Minerals Inc. announced that it expects to receive CAD 1 million in funding Search Minerals Inc. announced a non-brokered private placement financing to issue 851,064 units at a price of CAD 0.235 per Unit for gross proceeds of up to CAD 200,000.04 and 2,962,963 critical mineral flow-through units at a price of CAD 0.27 per FT Unit for gross proceeds of up to CAD 800,000.01; aggregate gross proceeds of CAD 1,000,000.05 on July 13, 2026. Each Unit will consist of one common share and one common share purchase warrant. Each FT Unit will consist of one common share and one-half of one Warrant. Each whole Warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.35 per Warrant Share for a period of 36 months following the date of issuance. A cash finder’s fee and compensation warrants may be paid to Red Cloud in connection with the Financing. The Financing is subject to the receipt of all necessary regulatory and other approvals, including the acceptance of the TSX Venture Exchange. There can be no assurance that the Financing will be completed, whether in whole or in part. The Financing may close in one or more tranches. The Unit Shares, FT Shares and Warrant Shares will be subject to a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws. New Risk • Apr 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.9m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.7m market cap, or US$9.29m). New Risk • Mar 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.9m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$11.8m market cap, or US$8.50m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). 
