Related Party Transaction

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Baru Gold Grants Share Options
Thenewswire· 2025-08-09 00:05
Summary of Key Points Core Viewpoint - Baru Gold Corp has granted a total of 4,700,000 stock options to its directors, management, and employees, subject to TSX Venture Exchange approval, with an exercise price of $0.07 per share for a two-year period expiring on August 7, 2028 [1] Group 1: Stock Options - The company has specifically granted 2,088,218 stock options to its CFO, Karen Dyczkowski, at an exercise price of $0.085 per share, also expiring on August 7, 2028 [2] - The stock options granted to insiders are classified as a "related party transaction" under Multilateral Instrument 61-101, but are exempt from formal valuation and minority shareholder approval as the value does not exceed 25% of the company's market capitalization [3] Group 2: Company Overview - Baru Gold Corporation is a junior gold developer with NI 43-101 gold resources located in Indonesia, which is among the top ten gold-producing countries globally [4]
Harvest Gold Announces Closing of Non-Brokered Private Placement with Crescat Capital as Lead Investor
Thenewswire· 2025-08-01 10:30
Core Viewpoint - Harvest Gold Corporation has successfully closed a non-brokered private placement, raising gross proceeds of approximately $2.3 million, which will be utilized for drilling and exploration activities in Quebec [1][5]. Group 1: Offering Details - The private placement consisted of 11,660,199 units priced at $0.075 per unit, generating proceeds of $874,514.93, and 13,533,666 charity flow-through units priced at $0.105 per unit, raising $1,421,034.93 [2]. - The total gross proceeds from the offering amount to $2,295,549.86 [1]. - All securities issued will be subject to a four-month hold period, expiring on December 1, 2025 [7]. Group 2: Investor Participation - Crescat Capital LLC, as the lead investor, purchased 5,866,666 units, increasing its non-diluted ownership in Harvest Gold to approximately 19.73% [3]. - Crescat's investment is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder approval requirements [3]. Group 3: Exploration Plans - Harvest Gold is set to commence its first drilling program at the Mosseau Gold Project, while also exploring Urban Barry and Labelle for the first time [4]. - The proceeds from the charity flow-through units will be allocated to eligible Canadian exploration expenses related to the company's projects in Quebec [6]. Group 4: Company Overview - Harvest Gold Corporation has three active gold projects in the Urban Barry area, covering a total of 329 claims over 17,539.25 hectares, located approximately 45-70 km east of the Gold Fields Windfall Deposit [8]. - The company's management and technical advisors possess over 400 years of collective geological and financing experience [8].
Walker Lane Resources Ltd. Announces Closing of Private Placement
Globenewswire· 2025-07-24 08:01
Core Viewpoint - Walker Lane Resources Ltd. has successfully closed a non-brokered private placement, raising a total of $386,000 through the issuance of non-flow through and flow-through units [1][2]. Group 1: Private Placement Details - The company issued 2,508,335 non-flow through units (NFT Units) at a price of $0.12 each, generating gross proceeds of $301,000 [1]. - Additionally, 607,143 flow-through units (FT Units) were issued at a price of $0.14 each, raising gross proceeds of $85,000 [1]. - Each NFT Unit and FT Unit consists of one common share and one common share purchase warrant, with warrants exercisable for two years at $0.16 per common share [1]. Group 2: Insider Participation - An insider subscribed for a total of 1,178,571 units, including 750,000 NFT Units and 428,571 FT Units, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [2]. - The company utilized exemptions from valuation requirements and minority approval due to the insider's participation not exceeding 25% of the company's market capitalization [2]. Group 3: Use of Proceeds - Proceeds from the sale of FT Units will be allocated to Canadian exploration expenses and flow-through mining expenditures, particularly for exploration at the Amy and Silver Hart Properties in the Rancheria Silver District [3]. - The net proceeds from NFT Units will be used for properties in Nevada, including Tule Canyon, Cambridge, and Silver Mountain, as well as for general working capital [3]. - Both FT and NFT Units are subject to a four-month hold period [3]. Group 4: Company Overview - Walker Lane Resources Ltd. is focused on exploring high-grade gold, silver, and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. [4]. - The company plans to initiate exploration programs to advance the Tule Canyon and Amy projects to the resource definition stage through upcoming drilling campaigns [4][5].
Abcourt Closes Private Placement of Debenture and Equity to Restart Sleeping Giant Mine
Globenewswire· 2025-06-26 11:00
Core Points - Abcourt Mines Inc. has successfully closed a non-brokered private placement of secured convertible debentures, raising gross proceeds of $3,000,000 [1][2] - The debenture will bear interest at Term SOFR plus 10% per annum and is convertible into common shares at a price of $0.05 per share during the first year and $0.10 thereafter [2] - The company also closed a tranche of non-brokered equity financing, raising $1,056,000 through the sale of 21,120,000 units at a price of $0.05 per unit [4][5] - The proceeds from both offerings will be used to restart the Sleeping Giant mine and mill, repay outstanding payables, and for general corporate purposes [9] Financing Details - The debenture will mature four years from the issuance date and can be prepaid by the corporation without penalty [2] - Each unit in the equity offering consists of one share and one share purchase warrant, allowing the purchase of one share at $0.08 until June 26, 2028 [5] - All securities issued are subject to a restricted period of four months plus one day following their issuance [6] Related Party Transaction - The debenture was purchased by François Mestrallet, a director of the corporation, qualifying it as a related party transaction under MI 61-101 [3] - Prior to the offering, Mr. Mestrallet held 16.10% of the shares on a non-diluted basis, which will change to 15.76% post-offering [11][12] Financing Facility - The corporation is finalizing a secured financing facility with Nebari Natural Resources Credit Fund II, LP, amounting to $8 million for a 36-month period [8] - This facility is intended to support the restart of the Sleeping Giant mine and is part of the overall financing strategy [9]
StorageVault Completes the Purchase of 8 Assets for $71.9 Million
Globenewswire· 2025-06-24 11:00
Group 1 - StorageVault Canada Inc. has completed the acquisition of seven stores and one adjacent vacant parcel of land for an aggregate purchase price of $71.9 million [1][2] - The funding for the acquisitions was sourced from funds on hand, a promissory note, and mortgage financing [2] - The Related Party Acquisitions, totaling $21.9 million, involved Access Self Storage Inc. as the vendor and were classified as related party transactions under MI 61-101 [3] Group 2 - StorageVault operates 258 storage locations across Canada, owning 228 of these locations and over 5,000 portable storage units, totaling over 12.9 million rentable square feet [4] - The company also provides last mile storage and logistics solutions, as well as professional records management services [4]
Urbanfund Corp. Announces Loan to Shareholder
Globenewswire· 2025-04-29 21:00
Core Points - Urbanfund Corp. has entered into a loan agreement with Westdale Construction Co. Limited for a principal amount of $3,000,000, repayable on July 29, 2025, with an interest rate of 5.95% per annum [1] - The loan is classified as a related party transaction due to the connections between the management of Urbanfund and Westdale, which allows it to be exempt from certain formal requirements under Multilateral Instrument 61-101 [2] - Urbanfund is a Toronto-based real estate development and operating company, focusing on identifying, evaluating, and investing in real estate projects across various locations in Canada [3]