Camino Minerals Closes First Tranche of Private Placement, Bolstering Copper Ambitions

Camino Minerals Corporation (TSXV:COR)(OTC:CAMZF) has successfully closed the first tranche of its non-brokered private placement, raising approximately C$1.63 million. The company issued 7,741,665 common shares at C$0.21 per share, with the proceeds earmarked for corporate working capital, legal expenses, engineering studies, and general administrative expenses. The shares are subject to a hold period of four months and one day, expiring on May 29, 2025.

Insiders of the company acquired an aggregate of 3,690,475 common shares in the first tranche, approximately C$775,000. This participation constitutes a "related party transaction" under Multilateral Instrument 61-101 and Policy 5.9 of the TSXV, but it is exempt from formal valuation and minority shareholder approval requirements as the fair market value of the Common Shares acquired by insiders and the consideration for the Common Shares paid by such insiders do not exceed 25% of the Company's market capitalization.

The closing of the first tranche remains subject to the final approval of the TSXV. The company paid a finders' fee of C$1,050 to an arm's length registered finder.



Camino Minerals is a discovery and development stage copper exploration company focused on developing copper producing assets and advancing its exploration projects. The company recently signed a definitive agreement to purchase the construction-ready Puquios copper mine in Chile, which will provide immediate cash flow and revenue generation. The acquisition aligns with Camino's long-term objectives of diversifying its asset portfolio and contributing to the growing demand for copper in various industries.

The proceeds from the financing will also enable Camino to commence an exploration drilling campaign at its Los Chapitos copper property in Peru, supported by C$1.5M in previous funding from Nittetsu Mining Co. This drilling campaign has the potential to lead to new discoveries and further enhance the company's growth prospects.



In conclusion, the closing of the first tranche of Camino's non-brokered private placement is a significant milestone for the company, providing the necessary capital to fund its operations, advance its exploration activities, and execute its strategic objectives. With the acquisition of the Puquios copper mine and the commencement of the exploration drilling campaign at Los Chapitos, Camino is well-positioned to capitalize on the growing demand for copper and deliver value to its shareholders.