Sun Peak Metals Closes Oversubscribed $6.7 Million Private Placement Offering of Subscription Receipts

Core Viewpoint - Sun Peak Metals Corp. has successfully closed an oversubscribed non-brokered private placement, raising a total of $6,668,622.10 to fund its acquisition of Saudi Discovery Company SPV Limited and advance its Shire VMS Project [1] Group 1: Private Placement Details - The private placement consisted of 16,032,470 subscription receipts from a wholly owned subsidiary, FinCo, generating gross proceeds of $5,611,364.50 at a price of $0.35 per receipt [1] - Additionally, 3,020,736 subscription receipts of Sun Peak were issued, raising gross proceeds of $1,057,257.60, also at a price of $0.35 per receipt [1] Group 2: Use of Proceeds - The net proceeds from the offering are intended for the advancement of the Shire VMS Project, working capital, general corporate purposes, and initial exploration work at SDC's properties upon completion of the acquisition [1]