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Smooth Rock Announces Non-Brokered Private Placement

Smooth Rock priced a $750,000 placement to fund Nevada drilling and test $0.30 support levels.

By The Northwire Desk — AI Analysis Jun 10, 2026 · 16:31 SMRV · 0.3 Smooth Rock Ventures Corp.

Executive Summary

Smooth Rock Ventures Corp. announced a non-brokered private placement of up to 3,000,000 units at $0.25 per unit.
Gross proceeds target $750,000, subject to TSXV and regulatory approvals.
Each unit contains one common share and one common share purchase warrant.
Warrants carry a $0.35 exercise price, a 36-month term, and an acceleration clause if the share price hits $1.00 for five consecutive days.
Proceeds are earmarked for advancing the exploration portfolio and general working capital.
Issued shares carry a statutory 4-month hold period.

Material Impact

The placement is a routine capital raise for a pre-revenue micro-cap explorer, but the pricing is a ~17% discount to the recent $0.30 market price.
Dilution is approximately 15% on a fully diluted basis, which is standard for small financings but unappealing to existing shareholders.
The company reported $488,599 in cash at Q1 2026 end. Adding $750,000 extends the cash runway to roughly $1.24 million, providing enough liquidity to fund the announced Giroux reconnaissance program and cover administrative costs through late 2026.
The financing does not alter the fundamental asset base, resource status, or exploration timeline. It is a liquidity extension, not a value accretive event.
Given the discount pricing and lack of strategic co-investors, the market will likely view this as a necessary but dilutive capital event. It aligns with prior expectations for a company in the exploration phase, but the discount signals weak organic demand.

SMRV · Price

Company Overview

Smooth Rock Ventures is a Nevada-focused exploration company advancing the Palmetto Gold Project and the Giroux Project within the Walker Lane shear zone.
Palmetto holds an NI 43-101 inferred resource of ~300,000 oz Au (as of Oct 2020) across 116 unpatented claims (~2,217 acres).
Giroux is a historical mine site with past production of copper, silver, gold, zinc, and barite, plus high-grade nickel. It features 12 patented and 36 unpatented claims (390 hectares).
The company is in the exploration phase, relying on reconnaissance, trenching, and sampling to prepare for initial drilling. No current resource estimate or production guidance exists.

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