RE:RE:RE:RE:Norice and proxy2023-01-23 01:06 ET - News Release Mr. Nelson Baker reports MINERAL MOUNTAIN CLOSES FIRST TRANCHE OF $7.9 MILLION FINANCING Further to the Aug. 24, 2022, and Sept. 1, 2022, news releases, Mineral Mountain Resources Ltd. has filed documents with the TSX Venture Exchange for final approval to close its seven-cent-per-unit financing for aggregate gross proceeds of $300,190. Conditional approval for this Financing was provided by the Exchange on August 4, 2022. The Company has issued 4,288,439 units ("Units), each Unit consisting of 1 common share and 1 common share purchase warrant, each warrant being exercisable for an additional common share at an exercise price of $0.15 for a period of 6 months, and has paid cash finder's fees of $8,119.30 to an arm's length finder. The Financing was effected with 3 insiders, subscribing for a total of $53,200 or 760,000 Units, that portion of the Financing a "related party transaction" as such term is defined under MI 61-101 - Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company's market capitalization. The Company further announces that it no longer intends to close on the remaining tranches of the Financing. The proceeds are to be used primarily to fund a 9,000-metre drill program at the Company's largest and most advanced gold projects in the Rochford District of South Dakota. Preparations for this drill program are currently underway. We seek Safe Harbor. © 2023 Canjex Publishing Ltd. All rights reserved.