Sokoman Minerals Corp. Closes Financing

ST. JOHN'S, NL / ACCESSWIRE / December 19, 2023 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") today announces that, further to its November 29, 2023 and December 6, 2023 news releases, it has filed documents with the TSX Venture Exchange seeking final approval to close their private placement financing (the "Financing"). The Financing consists of 53,892,847 $0.065 flow-through units (the "FT Units") and 3,200,000 $0.065 non flow-through units (the "NFT Units") for aggregate gross proceeds of $3,711,035.

Each FT Unit consists of one flow-through common share of the Company entitling the holder to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada), and one-half of a common share purchase warrant (a "Warrant"), each full Warrant being exercisable for one additional common share of the Company, each of which will not qualify as a flow-through share, at an exercise price of $0.13 for 12 months from the date of issue. Each NFT Unit consists of 1 common share of the Company and 1 common share purchase warrant (the "NFT Warrants"), each NFT Warrant being exercisable for an additional common share of the Company at an exercise price of $0.13 for 24 months from the date of issuance.

Three (3) insiders have subscribed for $29,500 or 453,846 FT Units, that portion of the Private Placement 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.

All securities issued pursuant to the FT Financing and the NFT Financing (together the "Financings") will be subject to a four-month and one-day hold period.

In connection with the Financings, the Company is paying finders' fees in cash and broker warrants as permitted by the policies of the TSX Venture Exchange (the "Exchange") as follows:

GloRes Securities Inc.:		$54,795.30 and 841,620 broker warrants, exercisable at $0.10 for 12 months
Marquest Asset Management Inc.:		$12,675 and 195,000 broker warrants, exercisable at $0.10 for 12 months
Castlewood Capital Corporation		$24,000.60 and 369,240 broker warrants, exercisable at $0.10 for 12 months
Stonegate Securities Ltd.		$24,000.60 and 369,240 broker warrants, exercisable at $0.10 for 12 months
Haywood Securities Inc.		$780 and 12,000 broker warrants, exercisable at $0.10 for 12 months
CIBC Private Wealth Management		$1,170 and 18,000 broker warrants, exercisable at $0.10 for 12 months
KJ Harrison Partners Inc.		$1,560 and 24,000 broker warrants, exercisable at $0.10 for 12 months
Accilent Capital Management		$4,500.60 and 69,240 broker warrants, exercisable at $0.10 for 12 months
RedPlug Inc.		$49,920 and 768,000 broker warrants, exercisable at $0.10 for 12 months
BMO Nesbitt Burns		$5,850

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") on or before December 31, 2024, and to renounce all of the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2023.