Valkea Raises C$2.5M in Private Placement Financing

Core Viewpoint - Valkea Resources Corp. has successfully closed a non-brokered private placement financing, raising gross proceeds of C$2.5 million, which will support its exploration efforts in Central Lapland, Finland [1][3]. Financing Details - The financing involved the issuance of 10,000,000 units at a price of C$0.25 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant [2]. - Each warrant allows the holder to purchase one common share at an exercise price of C$0.35 for a period of 36 months following the closing date [2]. - The company paid finders fees of C$49,500 and issued 198,000 finders warrants, which also have an exercise price of C$0.35 [3]. Use of Proceeds - Proceeds from the financing will be allocated to the exploration of the flagship Paana project and for working capital purposes [6]. Insider Participation - Directors and officers of the company subscribed for a total of 220,500 units, contributing gross proceeds of C$55,000, which is classified as a related-party transaction [5]. Company Overview - Valkea Resources is focused on gold exploration in Finland's Central Lapland Greenstone Belt, with a commitment to advancing significant gold deposits [9].