StrikePoint Gold Announces Closing of LIFE Offering for Gross Proceeds of C$3.1 Million

Executive Summary

• StrikePoint Gold Inc. closed a non‑brokered private placement under the Listed Issuer Financing Exemption, issuing 20,797,460 units at CAD $0.15 each for gross proceeds of CAD $3,119,619.
• Each unit includes one common share and one warrant (exercise price CAD $0.30, exercisable until 18 Nov 2027).
• Net proceeds are earmarked for exploration at the Nevada‑based Hercules Gold Project and Cuprite Gold Project and for general working capital.

Key Details

• Units Issued: 20,797,460 units @ CAD $0.15 per unit → CAD $3,119,619 gross proceeds.
• Unit Composition: 1 Common Share + 1 Common Share purchase warrant per unit.
• Warrant Terms: Exercise price CAD $0.30; exercisable any time on or before 18 Nov 2027; not exercisable for the first 60 days after issue.
• Finder Compensation: C$161,416.50 paid in finder's fees; issuance of 1,076,110 non‑transferable finder warrants (exercise price C$0.30, subject to a statutory hold period of 4 months + 1 day).
• Insider Participation: Insiders subscribed for 199,460 units → CAD $29,919 gross proceeds; treated as a related‑party transaction under MI 61‑101 with reliance on exemption thresholds.
• Use of Proceeds: Primarily for exploration activities at the Hercules Gold Project and Cuprite Gold Project (both in Nevada) and for general working capital.
• Closing Conditions: Subject to prescribed conditions, including TSX‑V approval.

Notable Quotes

• “The net proceeds from this offering will accelerate our exploration programs at Hercules and Cuprite, positioning StrikePoint for continued growth.” – Michael G. Allen, President, CEO & Director.