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

Scottie Resources Corp. (SCOT) closed the second and final tranche of its non-brokered private placement on October 22, 2026. This tranche raised C$2,413,443.90 in gross proceeds, bringing the total non-brokered gross proceeds to C$14,921,111.80. When combined with a brokered offering closed on October 9, 2026, the aggregate gross proceeds from both offerings total C$23,795,909.30.

The final tranche issued 823,369 shares, consisting of 695,000 non-brokered shares at C$2.90 and 128,369 flow-through shares at C$3.10. The company also issued finder's warrants totaling 35,700 at an exercise price of C$2.90, which expire on October 22, 2028. Related party transactions included the issuance of 24,175 flow-through shares to interested parties, which were exempt from formal valuation and minority shareholder approval under MI 61-101.

Proceeds from the offerings are designated for working capital, general corporate purposes, and technical studies and permitting for the Scottie Gold Mine Project. The securities are subject to a statutory hold period expiring February 23, 2027.

Scottie Resources Corp. (SCOT) closed the final tranche of its financing, a move that directly follows the announcement on September 24, 2026, and the subsequent closing of the initial tranche on October 9, 2026. The financing was fully anticipated and priced at a premium to the market price at the time of the announcement, with figures of $2.90 and $3.10 compared to the stock’s trading range of approximately $2.60 to $2.70.

The capital raise secures the necessary liquidity to fund the company’s ongoing $26 million, 50,000-metre drill program and supports the upcoming Feasibility Study targeted for the first half of 2027. The dilution associated with the transaction is consistent with the previously disclosed offering size and does not exceed market expectations. The news confirms the execution of the company's capital plan without adverse terms or unexpected regulatory hurdles, reinforcing the project's development timeline.

Scottie Resources Corp. (SCOT) is an advanced exploration and pre-production company focused on the 100%-owned Scottie Gold Mine Project in British Columbia's Golden Triangle. The flagship project centers on the Blueberry Contact Zone and historic Scottie underground workings, featuring a north-south mineralized corridor extending over 1,550 metres in strike length and tested to 525 metres depth.

The company recently completed a 27,309-metre 2025 drill program and launched a fully funded $26 million, 50,000-metre 2026 expansion program. A Preliminary Economic Assessment (PEA) released in October 2025 outlines a Direct-Ship Ore (DSO) development scenario with an after-tax NPV(5%) of $215.8 million at US$2,600/oz gold and a rapid 1.2-year payback period.

The company successfully mined, processed, and sold a 4,600-tonne bulk sample in late 2025, generating approximately $9 million in net revenue and validating the DSO logistics and metallurgy.