Kootenay Resources Announces Closing Of Private Placement

Executive Summary

• Kootenay Resources Inc. closed its previously announced non‑brokered private placement, raising $247,450 in aggregate gross proceeds.
• The offering comprised 2,690,000 non‑flow‑through (NFT) units at $0.05 each and 2,053,636 flow‑through (FT) units at $0.055 each.
• Net proceeds will be used to advance the Moyie Anticline Project, other resource properties eligible for Canadian exploration expenses, and general working capital.

Key Details

• NFT Units: 2,690,000 units × $0.05 = $134,500 gross proceeds. Each unit includes one non‑flow‑through common share and one warrant exercisable at $0.12 per share for five years.
• FT Units: 2,053,636 units × $0.055 = $112,950 gross proceeds. Each unit includes one flow‑through common share and one non‑flow‑through warrant exercisable at $0.15 per share for five years.
• Total Gross Proceeds: $247,450. Net proceeds to be applied to project development and working capital as described above.
• Resale Restriction: All securities are subject to a Canadian securities law resale restriction expiring 2025‑02‑06.
• Related Party Participation: CEO/President James McDonald subscribed for 910,000 FT units. Post‑offering, his holdings increased to 4,653,921 common shares and 1,352,500 warrants (13.3% of diluted share base).
• Board Approval: Offering was unanimously approved by the board; directors Christopher Curran and James McDonald abstained from voting on matters relating to their own participation.
• Use of Proceeds: Development of the Moyie Anticline Project, funding of other resource properties (eligible for Canadian exploration expenses), and general working capital requirements.

Notable Quotes

(No direct quotes were provided in the release.)