Scottie Announces $27 Million Non-Brokered Financing
Scottie raises $27m to fund its 2026 drill campaign and feasibility study for the project.
Scottie Resources Corp. announced a non-brokered private placement targeting up to $27 million in gross proceeds. The offering comprises up to 8,965,518 common shares at $2.90 per share and up to 322,581 flow-through common shares at $3.10 per share. Proceeds are earmarked for working capital, general corporate purposes, and specifically for incurring eligible Canadian exploration expenses tied to the Scottie Gold Mine Project. Insiders may participate, treated as a related-party transaction exempt from formal valuation and minority shareholder approval. Securities carry a statutory four-month hold period and require TSX Venture Exchange approval.
Scottie Resources Corp. (SCOT) has structured its financing to align with the company’s previously announced $26 million fully funded 2026 exploration program and the planned Feasibility Study. The capital raise serves to de-risk the execution of the 50,000+ meter drill program and supports the timeline for the H1 2027 Feasibility Study.
Pricing for the transaction at $2.90/$3.10 sits near the upper end of the recent trading range of $2.50–$3.20. This valuation reflects management's confidence in the project while introducing standard dilution. The move represents an expected, incremental step in the company's development roadmap, without introducing new strategic pivots, unexpected upside, or material changes to the project economics.
Scottie Resources Corp. (SCOT) is a gold exploration and development company focused on the Scottie Gold Mine Project in British Columbia's Golden Triangle. The company’s flagship asset is the Scottie Gold Mine, specifically the Blueberry Contact Zone.
The development strategy centers on a Direct-Ship Ore (DSO) model utilizing XRT ore sorting technology. This approach eliminates the need for a conventional processing plant and tailings facility, targeting low capital costs and rapid payback.
A Preliminary Economic Assessment (PEA) outlines a base-case DSO project with an after-tax NPV(5%) of $215.8M–$668.3M at gold prices of $2,600–$4,200/oz, with a payback period of 1.2–1.7 years. The current inferred resource stands at 703,000 ounces at 6.1 g/t Au across 3.6 million tonnes.