Oracle Commodity Holding Corp. Closes Private Placement

Vancouver, British Columbia--(Newsfile Corp. - March 28, 2024) - Oracle Commodity Holding Corp. ("Oracle" or the "Company") is pleased to announce that it has closed a non-brokered private placement raising gross proceeds of $800,000 through the issuance of 16,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share of the Company and one share purchase warrant (the "Warrant") with each Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.06 per share until March 28, 2027 (the "Private Placement").

The Company has issued an aggregate of 40,600 finders' units (the "Finders' Units"), each consisting of one common share of the Company and one share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.06 per share until March 28, 2027 to Raymond James Ltd. and Haywood Securities Ltd. in connection with a portion of the Private Placement closing.

Proceeds of the Private Placement are expected to be used for working capital and general corporate purposes. The securities issued pursuant to the Private Placement and the Finders' Units will be subject to a regulatory hold period and cannot trade until July 29, 2024.

John Lee, a Director of the Company, subscribed for 3,620,000 Units for gross proceeds of $181,000. Additionally, Silver Elephant Mining Corp ("Silver Elephant")., an insider of the Company by virtue of holding 10% or more of the issued and outstanding shares of the Company, subscribed for 3,500,000 Units for gross proceeds of $175,000. The issuance of Units to John Lee and Silver Elephant are considered related party transactions within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Private Placement by Mr. Lee and Silver Elephant does not exceed 25% of the fair market value of the Company's market capitalization. The Company will file a material change report in respect of the related party transaction in connection with the closing of the Private Placement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Oracle Commodity Holding Corp.

Oracle Commodity Holding Corp. is a Canadian reporting issuer, holding certain interests in other mining companies.

Further information on Oracle Commodity can be found at www.oracleholding.com.

ORACLE COMMODITY HOLDING CORP.

ON BEHALF OF THE BOARD

"Anthony Garson"
CEO

For more information about Oracle Commodity, please contact:
Email: info@oracleholding.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203531