Element 29 completes C$6.3 million private placement financing

Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) closed a non-brokered private placement on August 19, 2025, raising C$6.3 million in gross proceeds.

The Vancouver-based mining company issued 12.65 million units at C$0.50 per unit. Each unit consists of one common share and half of a purchase warrant. The warrants are exercisable at C$0.70 per share until August 19, 2028.

Element 29 plans to use the proceeds to fund exploration activities at its Peru projects, including a Phase-III drill program at its Elida porphyry copper-molybdenum-silver deposit in west-central Peru. The remaining funds will support general working capital needs.

Company insiders participated in the financing, purchasing 330,000 units. This participation constitutes a related party transaction under Canadian securities regulations, though the company relied on exemptions since insider participation did not exceed 25% of the company's market capitalization.

The securities carry a statutory hold period of four months and one day, expiring December 20, 2025. Element 29 paid aggregate finder's fees totaling C$254,415 in connection with the financing.

The company previously announced details of the private placement on July 17, 2025, and August 1, 2025. Element 29 focuses on exploring copper deposits in Peru and holds over 25,000 hectares of titled concessions across four projects in the country.

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