Scottie Resources Announces Closing of Brokered Private Placement and Initial Tranche of Non-Brokered Private Placement

Scottie Resources Corp. closed its previously announced brokered private placement and the initial tranche of its non-brokered private placement on October 9, 2026. The company raised aggregate gross proceeds of C$21,382,465.40 through the issuance of 7,359,870 common shares and flow-through shares at prices of C$2.90 and C$3.10 per share, respectively.

A related-party transaction was executed for 1,379,310 Non-Brokered Shares and 24,565 Flow-Through Shares, exempt from formal valuation and minority shareholder approval under MI 61-101. Proceeds are designated for working capital, general corporate purposes, and technical studies and permitting for the Scottie Gold Mine Project. Flow-through proceeds will be used for eligible Canadian exploration expenses, to be renounced by December 31, 2026.

A second and final tranche of the non-brokered offering is expected to close around October 14, 2026, raising approximately C$2,600,000. Shares are subject to a statutory hold period expiring February 10, 2027.

Agent compensation included C$442,457.99 in cash fees and 152,572 warrants exercisable at C$2.90 for 24 months. Finder's fees included C$330,306.64 in cash and 113,899 warrants at the same terms.

Scottie Resources Corp. (SCOT) announced a financing that serves as a direct follow-up to its September 24, 2026 announcement, which targeted up to C$27 million. The actual closing of C$21.38 million represents a slight miss against the maximum target but remains a substantial and fully executed capital raise.

The financing de-risks the company's near-term cash position, ensuring adequate funding for the ongoing 2026 drill program, technical studies, and the upcoming Feasibility Study (FS) and permitting phases. The dilutive impact is moderate and expected given the company's exploration-stage status. The use of proceeds aligns precisely with management's stated capital allocation priorities.

No new strategic partnerships, production milestones, or regulatory breakthroughs are introduced in this release. The market had already priced in the need for this capital following the PEA release and bulk sample success. The related-party transaction structure and exemption from minority approval streamline the closing but warrant scrutiny regarding insider participation levels and potential future overhang.

Scottie Resources Corp. is an exploration and development-stage company focused on the 100%-owned Scottie Gold Mine Project in British Columbia's Golden Triangle. The project encompasses a historic underground mine that operated from 1981 to 1984 and is currently in care and maintenance. The company's strategy centers on a Direct-Ship Ore (DSO) model utilizing ore sorting technology, which eliminates the need for a conventional processing plant and tailings facility.

Current Inferred Resource stands at 3,604 kilotonnes at 6.06 g/t Au for 703,000 ounces. A Preliminary Economic Assessment (PEA) completed in October 2025 outlines a base-case DSO scenario with an after-tax NPV(5%) of $215.8M–$668.3M CAD at gold prices of $2,600–$4,200/oz, initial capital costs of $128.6M CAD, and a 1.7-year payback period. A toll-milling scenario offers significant upside, with an NPV(5%) of up to $831.7M CAD, though no agreement is currently in place. The company is advancing a Feasibility Study targeting completion in H1 2027.