Financings Routine +

Tower Announces Non-Brokered Private Placement of up to $1.720 Million

Tower Resources secured $1.72 million for Rabbit North drilling, with dilution offset by strategic director participation and exploration momentum.

By The Northwire Desk — AI Analysis Jun 16, 2026 · 17:01 TWR · 0.16 Tower Resources Ltd.

Executive Summary

Tower Resources Ltd. announced a non-brokered private placement of up to $1,720,000 CAD.
The offering comprises up to 6,000,000 flow-through common shares priced at $0.18 per share and 4,000,000 units priced at $0.16 per unit.
Each unit includes one common share and one-half of a common share purchase warrant, exercisable at $0.25 per share for 12 months from issuance.
Gross proceeds will primarily fund exploration activities at the Rabbit North gold project in British Columbia, including diamond drilling and geophysical surveys, with the remainder allocated to general working capital.
A related-party component involves company directors purchasing approximately 200,000 units, utilizing MI 61-101 exemptions to expedite the transaction.
All securities are subject to a statutory hold period of four months and one day.

Material Impact

The financing is a routine, expected capital raise directly tied to the company's ongoing 3,000+ metre drilling program at Rabbit North, which resumed in early June 2026 after logistical delays.
Pricing is at or slightly above the recent trading range ($0.15-$0.17), indicating fair market valuation and minimal discounting. The flow-through shares at $0.18 command a slight premium over the unit price.
Director participation (~200,000 units) aligns management interests with shareholders and provides a tangible vote of confidence in the project's near-term potential.
The incremental dilution (~5.8% on a fully diluted basis) is manageable and directly funds de-risking exploration activities. The proceeds extend the company's cash runway, reducing the immediate need for further equity raises.
The news is in line with previous expectations and historical capital raising patterns. It does not represent a fundamental shift in valuation but rather sustains the exploration narrative.

TWR · Price

Company Overview

Tower Resources Ltd. is a junior exploration company focused on advancing gold projects in British Columbia's Kamloops mining district, a low-cost, infrastructure-rich region.
Flagship Project: Rabbit North, a 17,526-hectare property featuring the Thunder North and Blue Sky orogenic gold zones.
The project has demonstrated high-grade, near-surface intersections (e.g., 40.05 g/t Au over 6.3 m; 23.63 g/t Au over 6.02 m) and a 2.7 km gold-rich trend.
Exploration strategy focuses on infill drilling, strike extension, and depth testing to define an open-pit and underground resource.
The company also holds More Creek and Nechako Gold projects, though Rabbit North is the primary focus.

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