Mineral Road Discovery closes $180K private placement, boosting control of MR Partners to 70%.

Mineral Road Discovery Inc. has closed the first tranche of a private placement, raising $180,000 by issuing 3 million units at $0.06 each. Each unit includes one common share and one warrant exercisable at $0.08 until May 2029. MR Partners, controlled by the company's chairman Damien Reynolds, acquired all units, increasing its ownership to 70% of shares outstanding, or 75.55% if warrants are exercised. The funds will be used for general working capital, and the placement was approved by the board without a formal valuation. Additionally, director Jason Cubitt resigned effective May 1, 2026.