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Exploits Increases and Closes Final Tranche of Its Flow Through Share Private Placement
TMX Newsfile· 2025-12-30 22:01
Core Viewpoint - Exploits Discovery Corp. has successfully closed the final tranche of its non-brokered private placement, raising an additional $690,750 through the issuance of 9,210,000 flow-through common shares at a price of $0.075 per share [1]. Group 1: Financing Details - The final tranche of the financing is subject to a hold period expiring on April 30, 2026, in accordance with Canadian securities laws [1]. - The gross proceeds from the financing will be used for eligible Canadian exploration expenses, specifically for flow-through mining expenditures in Québec and Ontario [2]. - The company will incur these qualifying expenditures on or before December 31, 2026, and will renounce them to the subscribers of the flow-through shares by December 31, 2025, for an amount not less than the gross proceeds raised [3]. Group 2: Finder's Fees and Participation - The company paid a total cash finder's fee of $37,170 in connection with the financing, with no finder's warrants issued [4]. - Directors and officers of the company participated in the financing, relying on exemptions from minority approval and valuation requirements under MI 61-101 [4]. Group 3: Company Overview - Exploits Discovery Corp. is a Canadian gold exploration company focused on expanding its resources in top-tier mining jurisdictions in Québec and Ontario, with approximately 680,000 ounces of historical gold resources across its projects [6]. - The company's strategy aims to unlock district-scale potential through systematic exploration and strategic partnerships, thereby creating shareholder value through discovery and resource growth [6].