Financings

Essex Resources completes $605,000 IPO

By The Northwire Desk — AI Analysis Oct 23, 2025 · 12:42 ESXR · None Essex Resources Corp.

ESXR · Price

Essex Resources Corp. completed its IPO, issuing 2.7 M common shares at $0.15 and 1 M flow‑through shares at $0.20 for total gross proceeds of $605,000.
The company’s common shares were listed on the TSX Venture Exchange (symbol ESXR) with trading expected to begin on or about Oct. 23, 2025.
Leede Financial Inc., the exclusive IPO agent, received cash commissions, warrants and a corporate finance fee partially paid in shares; insiders purchased 100 k flow‑through shares at $0.20 each.

Shares Issued: 2,700,000 common shares @ $0.15/share; 1,000,000 flow‑through common shares @ $0.20/share.
Gross Proceeds: $605,000 from the IPO.
Listing: Common shares listed on Oct. 22, 2025 (after‑market) and expected to commence trading on TSX Venture Exchange ~Oct. 23, 2025 under ticker ESXR.
Agent Compensation (Leede Financial Inc.):
Cash commission: $37,600.
Warrants: 224,000 non‑transferable common share purchase warrants @ $0.15/share exercisable until Oct. 23, 2028.
Corporate finance fee: $35,000 + GST; $15,000 payable in company shares (100,000 common shares @ $0.15).
Escrow: 3,575,000 of the total 9,475,000 outstanding shares are subject to escrow per National Policy 46‑201, with an initial 10% release at closing and subsequent 15% releases semi‑annually over 36 months.
Insider Participation: Insiders bought 100,000 flow‑through shares @ $0.20/share for $20,000; treated as a related‑party transaction exempt from MI 61‑101 valuation/approval thresholds.
Option on Rabbitt Property: Company holds an option to acquire 100% of eight mineral claims (~1,048 ha) in the Similkameen mining division, BC.
Reference Documents: Final long‑form prospectus dated Sept. 4, 2025 filed on SEDAR+.

(No direct quotes were provided in the release.)

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