Rare-Earth Asset Advances 23% on Tax-Advantaged Exploration Funding

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Monday, July 13, 2026

The market is showing a strong preference for critical-metals explorers capable of structuring highly optimized, non-brokered capital raises. By structuring financings to separate general working capital from dedicated exploration funds targeted at eligible Canadian development expenses, near-term exploration plays are successfully de-risking their corporate treasuries and securing structural premiums well ahead of planned field campaigns.

Search Minerals Inc. (TSX-Venture: SMY) advanced Monday after announcing a non-brokered private placement for aggregate gross proceeds of up to $1,000,000.

The financing splits into two tranches: up to 851,064 units at $0.235 per unit for gross proceeds of up to $200,000, and up to 2,962,963 critical mineral flow-through units at $0.27 per FT unit for gross proceeds of up to $800,000. Each Unit includes one common share and one warrant. Each FT Unit includes one flow-through common share and one-half of one warrant. Each whole warrant is exercisable at $0.35 for 36 months from issuance.

Gross proceeds from the FT financing are earmarked for eligible Canadian exploration expenses that qualify as flow-through mining expenditures on the company's Foxtrot and Deep Fox projects in Labrador, with the company intending that those expenses also be eligible for the Critical Mineral Exploration Tax Credit. Net proceeds from the Unit financing are slated for working capital and general corporate purposes. Closing remains subject to TSX Venture Exchange acceptance and other regulatory approvals.

For reference, Search controls a roughly 64 km by 2 km road-accessible, tidewater belt in the Port Hope Simpson, St. Lewis critical rare earth element district of southeast Labrador, with a preliminary economic assessment and resource estimates completed for Foxtrot and Deep Fox, plus four additional prospects along the belt. The company has also advanced a patented Direct Extraction Process through two pilot plant campaigns producing purified mixed rare earth carbonate and mixed REO concentrates.

Shares of SMY are up 23.4% to $0.29. 

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