GSP Resource Corp. Closes Private Placement of Flow-Through Shares

Core Viewpoint - GSP Resource Corp. has successfully closed a non-brokered private placement, raising $240,000 through the issuance of 2,000,000 flow-through shares at a price of $0.12 per share, aimed at funding exploration activities on its mining properties [1][2]. Group 1: Private Placement Details - The private placement consists of 2,000,000 flow-through shares priced at $0.12 each, resulting in total gross proceeds of $240,000 [1]. - Proceeds will be allocated towards exploration work on the Alwin Mine and Mer Properties, with expenses eligible for the Critical Mineral Exploration Tax Credit [2]. - The company will renounce the proceeds to subscribers by December 31, 2025, ensuring that the total amount of gross proceeds raised is not less than the expenses incurred [2]. Group 2: Compensation and Insider Participation - The company paid a total cash compensation of $5,116.80 and issued 42,640 non-transferable broker warrants to eligible brokers as part of the private placement [3]. - Two insiders, including the CEO and a director, subscribed for 250,000 flow-through shares for a total of $30,000, classifying the transaction as a related party transaction [4]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the transaction's size relative to its market capitalization [4]. Group 3: Regulatory and Hold Period - All flow-through shares and common shares from the exercise of broker warrants are subject to a statutory hold period of four months and one day following the closing date of the private placement [5]. - The company is a mineral exploration and development firm focused on projects in Southwestern British Columbia, owning 100% interest in the Alwin Mine and Mer Properties [6].