The net proceeds from the Offering are expected to be used to support the Company’s existing operations, as well as for general working capital purposes.
The Offering is scheduled to close on or about January 27, 2026 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate, regulatory and other approvals, including the approval of the Canadian Securities Exchange (the “CSE”). The securities issued under the Offering will be subject to a statutory hold period of four months and one day from the Closing Date. The Company may compensate persons who act as finders for the Offering in accordance with the rules of the CSE.
A strategic investor of the Company, Mr. Russell Starr, has committed to participating in the Offering for up to C$1,000,000. Mr. Starr will also be joining the Company as a special advisor. Mr. Starr is a former Bay Street executive and associate hedge fund manager. Mr. Starr is also a seed investor in Echelon Wealth Partners (now Ventum Financial Corp.), a large Canadian investment dealer. Mr. Starr held executive and board positions at Cayden Resources Inc. and Auryn Resources Inc. amongst other public issuers. As a senior executive, board member and corporate finance specialist with Cayden Resources Inc., Mr. Starr was involved in marketing and financing development efforts including the sale of Cayden Resources Inc. for C$205M to Agnico Eagle Mines Limited in 2014. As chief executive officer of Trillium Gold Mines Inc. (now Renegade Gold Inc.), Mr. Starr was involved in the consolidation of the confederation greenstone belt in the Red Lake mining camp and the establishment of an exploration portfolio in both precious metals and critical elements. Mr. Starr’s most previous role was with DeFi Technologies Inc. as head of capital markets where he oversaw the company’s listing on the NASDAQ Capital Market. Mr. Starr holds a bachelor’s degree in economics from Queen’s University, a master’s degree in econometrics from the University of Victoria and an MBA from the Ivey Business School at Western University.
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