Formation Minerals, Inc announced it has entered into a Securities Purchase Agreement of for the purchase of up to 250 shares of the Company?s Class B Convertible Preferred Stock, par value $0.01 per share, in a private placement at issue price $1,000 per share, for aggregate gross proceeds of up to $250,000 on June 10, 2024. The transaction included participation from GHS Investments LLC.

On same day, the company issued 50 shares of the Class B Preferred Stock at issue price $1,000 per share, for aggregate gross proceeds of up to $50,000 in its first tranche.