Blast Resources Closes Fully-Subscribed LIFE Offering

Executive Summary

• Blast Resources Inc. closed its previously announced non‑brokered private placement, issuing 860,000 units at $0.25 per unit for total gross proceeds of $215,000.
• Each unit includes one common share and one transferable warrant exercisable at $0.35 per share, with exercise restrictions until February 22 2026 and acceleration provisions tied to the share price.
• Proceeds are earmarked for exploration work at the Wales Lake property and for general working capital and corporate purposes.

Key Details

• Units Issued: 860,000 units @ $0.25 each → Gross proceeds: $215,000.
• Unit Composition: 1 common share + 1 transferable warrant per unit.
• Warrant Terms:
• Exercise price $0.35 per share.
• exercisable until December 23 2027, subject to acceleration.
• Restricted from exercise until February 22 2026 (61‑day restriction period).
• Acceleration right: if the closing share price ≥ $0.50 for 10 consecutive trading days, the company may give notice to expire warrants 30 days after a 30‑day post‑notice period.
• Finder’s Fees Paid: $21,500 cash.
• Use of Proceeds: Exploration activities at Wales Lake property; working capital and general corporate purposes.
• Exemption Relied Upon: Listed issuer financing exemption under NI 45‑106 (Part 5A) and Coordinated Blanket Order 45‑935.

Notable Quotes

(No direct quotes were included in the release.)