Scottie Announces Closing of Its Previously Announced Non-Brokered Financing

Executive Summary

• Scottie Resources Corp. closed a non‑brokered private placement of 11,327,420 charitable flow‑through shares at $2.14 each, raising gross proceeds of $24.24 M.
• Ocean Partners UK Limited led the financing with a $5 M lead order (≈$6.90 M in flow‑through funding) and now holds ~13.5% of the company’s common shares post‑closing.
• Proceeds will be used for eligible Canadian exploration expenses on the Scottie Gold Mine Project, with all qualifying expenditures to be renounced to shareholders by 31 Dec 2025.

Key Details

• Offering size: 11,327,420 charitable flow‑through (FT) shares @ $2.14 per share.
• Gross proceeds: $24,240,678.80.
• Lead investor: Ocean Partners UK Limited – lead order ≈ $5 M; total investment $6,903,224.84 for 3,225,806 common shares.
• Ownership impact:
• Pre‑investment: Ocean Partners held ~10.87% (6,978,082 shares).
• Post‑investment: Ocean Partners holds ~13.51% (10,203,888 shares).
• Use of proceeds: Eligible Canadian exploration expenses (“Qualifying Expenditures”) on the Scottie Gold Mine Project; expenditures will be renounced to FT shareholders by 31 Dec 2025.
• Finder compensation: $153,450 cash commissions paid to finders; issuance of 99,000 non‑transferable finder’s warrants (exercise price $1.76 per common share, 24‑month term).
• Hold period: All securities subject to a hold period expiring 4 Apr 2026 plus any other applicable restrictions.
• Regulatory status: Offering pending final acceptance by the TSX Venture Exchange (TSXV).
• Related‑party transaction: Classified as an MI 61‑101 related‑party transaction; exemptions applied because share value and consideration are <25% of market cap.
• Early warning disclosure: Ocean Partners to file early‑warning report under SEDAR+ requirements.

Notable Quotes

(No direct quotes were provided in the release.)