Sitka Gold Closes $28.5 Million Financing

Core Points - Sitka Gold Corp. has successfully closed a brokered private placement and a concurrent non-brokered private placement, raising a total of $28,552,402 [1][3] - The brokered offering consisted of 16,235,000 charity flow-through common shares at a price of $1.54 per share, generating gross proceeds of $25,001,900 [1][2] - The non-brokered offering included 2,305,521 charity flow-through shares at the same price, yielding gross proceeds of $3,550,502 [1] Offering Details - The brokered offering was led by Beacon Securities Limited along with a syndicate of underwriters including Cormark Securities Inc., Canaccord Genuity Corp., and others [2] - The proceeds from the offerings will be used for eligible Canadian exploration expenses related to the RC Gold Project in the Yukon Territory, Canada, to be incurred by December 31, 2026 [3] - A total of 12,988,000 shares from the brokered offering were offered under the listed issuer financing exemption, while 3,247,000 shares are subject to a four-month hold period [4] Compensation and Future Financing - The company paid a cash commission of $1,500,114 to the underwriters and issued 974,000 compensation options, each allowing the purchase of one common share at $1.54 for 24 months [5] - Additionally, the company plans to complete a non-brokered financing of 1,500,000 common shares at $1.37 per share, aiming for gross proceeds of $2,055,000 for further exploration expenses [6][7] Company Overview - Sitka Gold Corp. is a well-funded mineral exploration company with over $43 million in treasury and no debt, focusing on gold, silver, and copper properties [10] - The company is advancing its flagship RC Gold Project, which spans 431 square kilometers in the Yukon Territory, along with other projects in Nevada, Arizona, and Nunavut [10]