Ashley Gold Corp. Closes Oversubscribed Critical Mineral Flow-Through Private Placement For Gross Proceeds Of $487,510

Executive Summary

• Ashley Gold Corp. closed its non-brokered critical mineral flow-through private placement, raising approximately CDN$487,510 in gross proceeds.
• The company issued 8,125,167 flow-through common shares at $0.06 per share, with all proceeds designated to fund drilling and exploration at its Ontario critical minerals projects.
• The offering was oversubscribed, and the company paid CDN$35,260.80 in commissions while issuing 412,680 finder warrants exercisable at $0.06 for a 24-month period.

Key Details

• Gross proceeds raised: CDN$487,510.02
• Shares issued: 8,125,167 critical mineral flow-through common shares
• Price per share: $0.06
• Use of proceeds: Fund drilling and exploration at the Company’s critical minerals projects in Ontario (eligible Canadian exploration expenses/flow-through critical mineral mining expenditures)
• Renunciation schedule: Qualifying expenditures to be renounced with an effective date no later than December 31, 2026, and incurred on or before December 31, 2027
• Commissions paid: CDN$35,260.80
• Finder warrants issued: 412,680 warrants, exercisable at $0.06 per share for 24 months from closing
• Post-closing shares outstanding: 94,475,040 common shares
• Regulatory status: Subject to final acceptance by the Canadian Securities Exchange (CSE); all securities subject to a four-month hold period
• Offering status: Oversubscribed, with investor demand exceeding the final closing amount

Notable Quotes

• President Noah Komavli: “We are very pleased to welcome new shareholders to our developing story, with demand for the Offering exceeding current allocations and the initial raise target. This strong level of interest speaks to appreciation of the work executed to date, understanding of our streamlining efforts, our strategic foothold in the Dryden camp, as well as an overall bullish outlook on the precious metals. I look forward to delivering further results and updates as we advance our projects.”