McLaren Arranges Exploration Financing

Executive Summary

• McLaren Resources Inc. announced a non‑brokered private placement of 4,600,000 Flow‑Through Units at $0.065 per unit, generating gross proceeds of approximately $299,000.
• Each FT Unit includes one common share and half of a warrant (full warrant exercisable at $0.10 per share for 24 months).
• Proceeds will be used to fund exploration activities on McLaren’s properties in the Timmins Gold Region of Northeastern Ontario.

Key Details

• Financing Structure: 4,600,000 Flow‑Through Units (FT Units)
• Unit Price: $0.065 per FT Unit
• Components per FT Unit:
• One common share issued on a flow‑through basis under the Canadian Income Tax Act
• Half of one common share purchase warrant (full warrant = one common share at $0.10)
• Warrant Terms: Exercisable into one common share at $0.10 for a period of 24 months from issuance date.
• Gross Proceeds: Approximately $299,000 (4,600,000 × $0.065).
• Use of Proceeds: Dedicated to exploration work on McLaren’s gold properties in the Timmins Gold Region, including the Blue Quartz, McCool, and Kerrs projects.
• Location Context: The Timmins Gold Region has produced >70 million ounces of gold historically; McLaren holds 100% interest in a 640‑ha past‑producing Blue Quartz mine and additional sizable properties (1,770 ha McCool, 775 ha Kerrs).

Notable Quotes

• No direct quotes were provided in the release.