Mayo Lake Minerals Inc. (CSE: MLKM) has amended the pricing of flow-through units in its previously announced non-brokered private placement, reducing the issue price from $0.05 to $0.045 per FT Unit. The overall offering size remains unchanged at up to $700,000 in aggregate gross proceeds, with the lower price increasing the maximum FT Unit count to 11,111,111. The offering is expected to close on or about November 4, 2026, pending regulatory and corporate approvals including from the Canadian Securities Exchange.

Key Points

  • Mayo Lake Minerals Inc. (CSE: MLKM) is a CSE-listed minerals company based in Ottawa, Ontario
  • The flow-through unit price has been reduced from $0.05 to $0.045 per FT Unit, while total offering proceeds remain capped at up to $700,000
  • FT Units now represent up to 11,111,111 units; common share units are unchanged at a minimum of 5,000,000 at $0.04 each
  • Investors may watch for confirmation of regulatory approvals and the anticipated closing on or about November 4, 2026

Amendment Details: Lower FT Unit Price, Unchanged Aggregate Target

The company announced on October 7, 2026 that it has reduced the FT Unit price from $0.05 to $0.045 following its October 5, 2026 news release. At the revised price, the maximum gross proceeds from FT Units remain $500,000, now representing up to 11,111,111 FT Units. The common share unit component — a minimum of 5,000,000 CS Units priced at $0.04 each for minimum gross proceeds of $200,000 — is unchanged. Aggregate maximum gross proceeds across both unit types remain up to $700,000, and the offering may close in one or more tranches.

Unit Structure: Warrants Attached to Both CS and FT Units

Each CS Unit consists of one common share and one CS Warrant, while each FT Unit includes one flow-through common share under subsection 66(15) of the Income Tax Act (Canada) and one FT Warrant. CS Warrants allow holders to acquire one additional common share at $0.07 for 30 months from the closing date, while FT Warrants carry an exercise price of $0.08 over the same period. The warrant structure offers investors potential additional exposure to the company's common shares beyond the initial placement, subject to market conditions and the eventual closing date.

Finder Fees and the Amended FT Warrant Exercise Price

In connection with the offering, the company may pay eligible finders a cash commission of up to 8% of gross proceeds they raise, along with finder warrants equal to up to 8% of the units they sell. The exercise price of finder warrants issued in respect of FT Units has also been reduced, from $0.05 to $0.045 per common share, reflecting the amended FT Unit price. Finder warrants on CS Units carry an exercise price of $0.04. All securities issued under the offering are subject to a statutory hold period of four months and one day from issuance.