Makenita Resources Corporate Update

Vancouver, British Columbia–(Newsfile Corp. – March 24, 2025) – Makenita Resources Inc. (the “Company” or “Makenita”) (CSE: KENY) (WKN: A40X6P) wishes to announce a private placement financing (the “Financing“) to raise gross proceeds up to $500,000 through an issuance of up to 5,000,000 units (each, a “Unit“) at a price of $0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (each, a “Share“) and one transferrable share purchase warrant (each, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a “Warrant Share“) at a price of $0.16 per Warrant Share until 5:00 p.m. (Vancouver time) five years from the closing of the Financing. All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after the closing of the Financing.

Makenita Resources Inc. plans to rely upon the existing security holder exemption (the “Existing Security Holder Exemption“) found in B.C. Instrument 45-534 Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders (“BC Instrument 45-534“) and as further described in Multilateral CSA Notice 45-313 Prospectus Exemption for Distributions to Existing Security Holders (published March 13, 2014) or analogous exemptions in each of the applicable permitted jurisdictions for shareholders of record as of March 11, 2025, as well as other exemptions. As at the date hereof, the Existing Security Holder Exemption is available in each of the provinces of Canada, with the exception of Newfoundland and Labrador.

As required by BC Instrument 45-534, the attached table sets out the intended use of proceeds of the offering on a percentage basis. The intended uses of proceeds and/or the Company’s development capital needs may vary based upon a number of factors. These funds will be allocated 100% working capital.

None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the “1933 Act“), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. Finder’s fees may be paid to eligible finders in connection with the Financing.

Any questions regarding this placement please contact President Jason Gigliotti directly at 1 604 609 6527 or [email protected]

Jason Gigliotti, President of Makenita, stated, “This financing will strengthen our working capital, allowing us to be more agile in the future when allocating resources for projects and marketing efforts.”

About Makenita Resources Inc.

Makenita currently has rights in and to the Hector Silver/Cobalt Property, consisting of 126 contiguous unpatented mineral claims totaling 2,243 hectares (5,542-acres), located within the Coleman and Gillies Limit Townships, Larder Lake Mining Division, Timiskaming District, Ontario, Canada.

Makenita Resources Inc.

“Jason Gigliotti”

Jason Gigliotti
President, Chief Executive Officer and Director

For more information regarding this news release, please contact:

Makenita Resources Inc.

The CSE has neither approved nor disapproved of the contents of this press release.

Forward Looking Statements

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Makenita. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Makenita disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States. None of the securities sold in connection with the private placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245901