Axcap Announces Fully Subscribed C$8.2 Million Financing With a Strategic Investor Acquiring 9.9% of the Company

Executive Summary

• Axcap Ventures Inc. announced a proposed non‑brokered private placement of 48 million common shares at $0.17 per share, targeting gross proceeds of $8.16 million.
• The placement will be made to a strategic cornerstone investor representing 9.9% of the post‑offering equity and is expected to close around October 21, 2025.
• Proceeds are earmarked primarily for general corporate purposes, notably the completion of a Preliminary Economic Assessment (PEA) for the flagship Converse Gold Project in Nevada.

Key Details

• Offering Size: 48,000,000 common shares
• Issue Price: $0.17 per share
• Aggregate Gross Proceeds: $8,160,000
• Investor Ownership Post‑Closing: ~9.9% (cornerstone investor)
• Expected Closing Date: On or about October 21, 2025
• Use of Proceeds: General corporate purposes, with a primary focus on completing the PEA for the Converse Gold Project.
• Cash Finder’s Fee: To be paid by Axcap in connection with the offering.
• Statutory Hold Period: Shares subject to a four‑month‑and‑a‑day hold period from issuance.
• CEO Quote: “This financing will be completed at a significant premium … positioning us to unlock the significant potential of our flagship Converse Gold Project.” – John Dorward, CEO.

Notable Quotes

“With the addition of a new cornerstone investor, we will further strengthen our shareholder base, which will position us to unlock the significant potential of our flagship Converse Gold Project in Nevada, USA.” – John Dorward, Chief Executive Officer

Materiality Assessment: Material – Positive (the financing provides substantial capital for advancing a major development project and represents a material corporate event).