Boreal Gold Announces Non-Brokered Private Placement

Executive Summary

• Boreal Gold Ltd. announced a non‑brokered private placement to raise up to C$3,000,000 in gross proceeds.
• The offering consists of Units (each unit = 1 Class A share + ½ warrant) priced at $0.25 per Unit, and Class A flow‑through shares priced at C$0.35 per FT Share.
• Northfield Capital Corporation, led by President/CEO Robert Cudney, intends to purchase up to 2,400,000 Units for a total of $600,000.

Key Details

• Total Gross Proceeds Target: Up to C$3,000,000.
• Units Pricing: $0.25 per Unit. Each Unit contains:
• 1 Class A Share (non‑flow‑through)
• ½ of a share purchase warrant (full warrant gives the holder the right to acquire one additional Class A Share at $0.35).
• Flow‑Through Shares Pricing: C$0.35 per FT Share.
• Warrant Exercise Price: $0.35 per share, exercisable for two years after closing.
• Use of Proceeds:
• Units – General corporate purposes.
• FT Shares – Exploration and advancement of the North Star, Fay Lake, and Melgurd Lake properties.
• Holding Period: All securities subject to a four‑month + one‑day hold period from issuance per Canadian securities law.
• Finder Compensation: Company may pay finder's fees or issue finder's warrants, subject to CSE policies and applicable legislation.
• Insider Participation: Insiders may participate; such participation is deemed a related‑party transaction but is not expected to exceed 25 % of market capitalization, allowing reliance on exemption from formal valuation and minority‑shareholder approval requirements.
• Northfield Capital Commitment: Up to 2,400,000 Units (≈ $600,000) pending subscription.
• Legal Advisor: Cassels Brock & Blackwell LLP.

Notable Quotes

(No executive quotes were included in the release.)