COMMON STOCK WARRANTS AND PREFERRED STOCK

9 Months Ended

Jun. 30, 2024

COMMON STOCK WARRANTS AND PREFERRED STOCK

COMMON STOCK, WARRANTS AND PREFERRED STOCK

NOTE 6 – COMMON STOCK, WARRANTS AND PREFERRED STOCK:

On December 28, 2023, the Company closed a non-brokered private placement to accredited investors at a price of $0.04 per unit. Units consist of one share of common stock and one series P warrant share. The Company issued 15,750,000 common shares and a like number of warrants for cash proceeds of $630,000. The warrants have a term of four years and are exercisable at $0.06 per common share.

During the nine months ended June 30, 2024, 1,016,022 series N warrants expired. During the nine months ended June 30, 2023, 2,880,867 series C warrants and 4,000,000 series K warrants expired.

At June 30, 2024, the Company has a total of 26,785,000 warrants outstanding with a weighted average exercise price of $0.07 and a weighted average remaining contractual term of 2.69 years.

At April 16, 2024, the Company entered into a Merger Agreement which would convert all outstanding shares, in-the-money options and warrants into like instruments of common stock or equivalents of McEwen, as described in Note 5 – Merger Agreement.