Ibero Mining raises $500,000 through private placement of units

Ibero Mining Corp. (TSX.V: IMC) (OTCQB: AUCCF) completed a non-brokered private placement, issuing 16,666,667 units at $0.03 per unit for gross proceeds of $500,000, according to a company statement.

Each unit consists of one common share and one warrant allowing the holder to purchase an additional common share at $0.08 within 36 months. The company paid $11,690 in fees to eligible third parties and issued 393,000 broker warrants exercisable at $0.08 for three years.

The units are subject to a four-month hold period under Canadian securities laws. The private placement requires final approval from the TSX Venture Exchange.

The company plans to allocate the proceeds as follows: $75,000 for accounting, audit and legal fees; $40,000 for finder's fees; $250,000 for exploration activities; and $135,000 for working capital. These funds will support the preparation of continuous disclosure documents and an application for a full revocation order from the British Columbia Securities Commission.

Ibero Mining also disclosed that $8,825 from a previous private placement that closed March 4, 2026, was paid to non-arm's length parties for management and rent fees.

The Vancouver-based company holds gold and copper-gold projects in Portugal, including a 100% equity interest in EVX Portugal, which controls the Borba 2 exploration properties covering approximately 328 square kilometers in the Alentejo region.

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