Core Viewpoint - Belo Sun Mining Corp. has successfully closed a non-brokered private placement financing, raising gross proceeds of US$30 million (C$41.3 million) to support its operations and commitments related to the Volta Grande Project in Brazil [1][3]. Group 1: Private Placement Details - The company issued a total of 96,146,512 common shares at a price of C$0.43 per share [2]. - La Mancha Investments S. à r. l. subscribed for 50,587,226 common shares, becoming a Control Person of the company [2][5]. - The proceeds from the private placement will be used for working capital and general corporate purposes, including commitments to local communities [3]. Group 2: Regulatory and Compliance Aspects - The securities issued in the private placement were not registered under the United States Securities Act of 1933, and cannot be offered or sold in the U.S. without registration or an exemption [4]. - The creation of a new Control Person due to La Mancha's participation required approval from a majority of disinterested shareholders, which was obtained [5]. - La Mancha's involvement in the private placement is classified as a related party transaction, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [6]. Group 3: Company Overview - Belo Sun is a Canadian mining company focused on developing the Volta Grande Gold Project located in Pará State, Brazil [7]. - The company trades on the Toronto Stock Exchange under the symbol "BSX" and on the OTCQB under "BSXGF" [7].

TORONTO, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX:BSX, OTCQB:BSXGF) is pleased to report that all meeting matters put forth to the shareholders (the “Shareholders”), as voted on by the disinterested shareholders, were duly approved at its special meeting of shareholders held today (the “Meeting”). At the Meeting, the 91.99% of the disinterested Shareholders approved the issuance of up to 56,565,697 common shares of the Company to La Mancha Investments S. à r ...

Core Points - Belo Sun Mining Corp. is conducting a non-brokered private placement financing at a price of C$0.43 per common share, aiming for gross proceeds of up to US$30 million (C$41,343,000) [1] - La Mancha Investments, an existing shareholder, has committed to participate in the private placement and will provide a majority of the funding [2] - The completion of the private placement is expected to create a new Control Person, La Mancha, subject to shareholder and Toronto Stock Exchange approvals [3] Financing Details - The private placement will involve a statutory hold period of four months plus a day from the date of issuance [4] - Proceeds from the financing will be used for working capital and general corporate purposes, including commitments to local communities [5] - The company may pay finder fees in accordance with Toronto Stock Exchange policies [5] Regulatory Considerations - The securities issued in the private placement will not be registered under the United States Securities Act of 1933 [6] - The creation of a new Control Person requires shareholder approval as La Mancha's participation will result in holding 20% or more of the shares [7] - La Mancha's participation is classified as a related party transaction, and the company will rely on exemptions from formal valuation and minority shareholder approval requirements [8] Company Overview - Belo Sun is focused on developing the Volta Grande Gold Project in Pará State, Brazil, and trades on the Toronto Stock Exchange under the symbol "BSX" [9]