Axcap Announces Closing of Upsized $9.2 Million Financing

Financing - Axcap Ventures Inc. has completed an upsized non-brokered private placement, raising aggregate gross proceeds of $9,160,000, which was increased by $1,000,000 due to strong investor interest [1][2] - The company issued a total of 53,882,353 common shares as part of the offering, with proceeds primarily allocated for general corporate purposes, including a Preliminary Economic Assessment on the Converse Gold Project [1] Company Overview - Axcap Ventures Inc. is focused on developing the Converse Gold Project, a significant underdeveloped gold deposit located in Nevada, USA, which contains 5.57 million ounces of gold in Measured and Indicated Mineral Resources and 0.42 million ounces in Inferred Mineral Resources [3] - The Converse Gold Project has a total of 238 million tonnes at an average grade of 0.539 grams per tonne for Measured Mineral Resources and 92 million tonnes at 0.487 grams per tonne for Indicated Mineral Resources [3] Advisory and Compliance - The company paid a cash advisory fee to 3L Capital Inc. for its role as a financial advisor in connection with the offering [2] - All common shares issued are subject to a statutory hold period expiring on February 23, 2026 [2]