Graycliff Exploration Closes Oversubscribed Private Placement

• On 2026‑04‑08 the company closed a non‑brokered private placement that raised gross proceeds of C$650,000 (net after fees).
• The offering consisted of 5,416,308 common share units (1 share + ½ warrant per unit) at an implied price of roughly C$0.12 per unit.
• Warrants are exercisable at C$0.18 per share until April 7 2027.
• Proceeds are earmarked for exploration work at the Shakespeare gold project and general working capital.
• The transaction included C$458,000 of new equity financing and C$192,000 of debt settlements; insiders subscribed to 1,341,667 units, leaving Arndt Roehlig with ~13.9 % of the post‑offering share base.
• A four‑month hold period applies before resale.

• Scale: C$650k is modest relative to the company’s market cap (~C$0.62 m) and prior financing history (previous placements of $440k and $450k).
• Expectation vs. reality: The AGM on 2026‑04‑02 announced an oversubscribed placement with a raised target up to C$650k; the April 8 closing simply confirms that target was met. No surprise element, but it removes financing uncertainty.
• Liquidity: Improves cash runway for the Shakespeare project and eliminates $192k of debt, reducing short‑term leverage. This is a positive operational development but not transformative.
• Dilution & Ownership: New shares dilute existing holders modestly; insider participation keeps control relatively stable. No change in governance.
• Overall: The news is positive but routine—it fulfills a previously disclosed financing plan and marginally strengthens the balance sheet without altering strategic direction.

Graycliff Exploration Ltd. is a junior gold explorer focused on the Shakespeare Gold Project in British Columbia. The project has accumulated over 12,500 m of drilling with visible gold intercepts. Recent acquisitions of drill core and geological data (2.3 M shares issued) aim to de‑risk the resource estimate.