Blast Resources arranges financing of 25-cent units
Executive Summary
- Blast Resources Inc. announced a non‑brokered private placement of up to 860,000 units at $0.25 per unit, targeting minimum gross proceeds of $200,000 and maximum of $215,000.
- Each unit includes one common share and one warrant (exercise price $0.35, exercisable after 61 days, with acceleration provisions tied to a $0.50 share price trigger).
- The company also granted 600,000 stock options (exercise price $0.25) and 1.1 million RSUs to consultants and a director, all vesting immediately but subject to a four‑month hold period.
Key Details
- Offering Size & Structure
- Minimum gross proceeds: $200,000; Maximum gross proceeds: $215,000.
- Units offered: 800,000 – 860,000 units at $0.25 per unit.
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Each unit = 1 common share + 1 transferable warrant.
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Warrant Terms
- Exercise price: $0.35 per share.
- Exercise window: Begins 61 days after closing; expires 30 days after acceleration notice (if triggered).
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Acceleration trigger: Share price ≥ $0.50 for 10 consecutive trading days.
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Use of Proceeds
- Exploration activities at the Wales Lake property.
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Working capital and general corporate purposes.
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Finder’s Fees
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Up to 10 % of gross proceeds may be paid as cash fees to eligible arm‑length parties.
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Regulatory Exemptions
- Offered under the listed issuer financing exemption (NI 45‑106 Part 5A).
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No resale restrictions for Canadian resident investors; exemptions relied upon include Coordinated Blanket Order 45‑935.
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Closing Timeline
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Expected closing: on or about Dec 31, 2025, or any date within 45 days of Dec 10, 2025, subject to approvals and CSE policies.
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Equity Incentive Grants
- 600,000 stock options granted at an exercise price of $0.25 per share, expiring three years from grant date.
- 1.1 million RSUs granted concurrently.
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Both options and RSUs vest immediately; underlying shares subject to a four‑month hold period under Canadian securities law and CSE policy.
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Additional Information
- Offering documents are available on the company’s SEDAR+ profile and website; investors are urged to review them before investing.
Notable Quotes
(No direct quotes were provided in the release.)