TORONTO, June 02, 2026 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) ("Mink" or the "Company") announces it has closed the first tranche of its non-brokered private placement (the "Offering') announced on May 12, 2026. The Company has raised gross proceeds of $881,920 from the issuance of 4,578,500 hard dollar units (the "HD Units") at a price of $0.10 per HD Unit and the issuance of 3,262,077 CMETC eligible flow-through units (the "FT Units") at a price of $0.13 per FT Unit in this first tranche. A second and final closing of the Offering is expected to occur in mid June.

Each HD Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("HD Warrant"). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

Each FT Unit consists of one Common Share of the Company (a "FT Share") and one Common Share purchase warrant ("FT Warrant"). Each FT Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on October 3, 2026. The Private Placement is subject to obtaining final approval of the TSX Venture Exchange.

Certain directors and officers of the Company purchased an aggregate of 257,000 FT Units pursuant to the Private Placement, constituting a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction will be exempt from the ...