Salazar Resources closes $1.4 million private placement

Salazar Resources Limited (TSXV: SRL) completed a non-brokered private placement financing that raised gross proceeds of $1,430,498, according to a press release statement.

The company issued 11,003,830 common shares at $0.13 per share. Finder's fees totaling $15,600 in cash and 120,000 finder's warrants were paid on a portion of the financing. Each finder's warrant allows the purchase of one common share at $0.13 for two years from closing.

Company insiders purchased 839,600 shares as part of the offering. This participation constituted a related party transaction under Multilateral Instrument 61-101 but was exempt from formal valuation and minority shareholder approval requirements since neither the fair market value of securities issued to insiders nor their consideration exceeded 25% of the company's market capitalization.

Net proceeds will fund costs on the company's resource properties and general working capital purposes. All securities issued are subject to a four-month hold period and regulatory approvals, including final acceptance by the TSX Venture Exchange.

Separately, Salazar Resources entered into an investor relations agreement with Baystreet.ca Media Corp., a Vancouver-based service provider. The three-month agreement begins in January 2026 upon TSX Venture Exchange approval, with monthly cash compensation of $20,000. No securities will be issued as compensation.

Salazar Resources focuses on discovery, exploration and development in Ecuador, with copper-gold exploration projects across the country. The company holds carried interests in three projects, including a 25% stake in Curipamba and 20% stakes in the Pijili and Santiago copper-gold porphyry projects.

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