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Financings Routine +

Seahawk Closes First Tranche of Concurrent Financing Raising $448,000

Seahawk Ventures Secures First Tranche of $1M Financing to Fuel Arizona-New Mexico Gold Exploration RTO

By The Northwire Desk — AI Analysis Jun 25, 2026 · 13:01 SEAG · 0.3 Seahawk Gold Corp.
Executive Summary
  • Seahawk Ventures closed the initial tranche of a concurrent private placement, raising $448,000 from 1.28 million subscription receipts priced at $0.35 each.
  • Proceeds are held in escrow and will only be released upon obtaining shareholder and regulatory approvals, including conditional Canadian Securities Exchange (CSE) approval, for the proposed reverse take-over (RTO) of Sunridge Gold Corp. and Sunridge Mining Corp.
  • The company aims to raise up to $1,000,000 in total through future tranches.
  • Each receipt converts to one Unit (one common share + 0.5 warrant) upon escrow release. Warrants are exercisable at $0.50 for three years, with accelerated exercise if the stock exceeds $1.00 for 10 consecutive days.
  • A statutory hold period expires on October 24, 2026. Finder’s fees of $35,000 and 100,000 warrants were issued for this tranche.
Material Impact
  • The financing is a direct prerequisite for the RTO transaction announced in February 2026.
  • Funds are locked in escrow until regulatory and shareholder approvals are secured, meaning the capital is not immediately available for operational use or exploration activities.
  • The $448,000 tranche represents 44.8% of the total $1,000,000 target, indicating steady progress toward the capital raise but leaving a $552,000 gap to be filled.
  • The transaction structure maintains the $0.35 deemed value per share established in prior amendments, showing consistency in valuation expectations.
SEAG · Price
Company Overview
  • Seahawk Ventures is a mineral exploration company re-activating its operations through a proposed RTO of Sunridge Gold Corp. and Sunridge Mining Corp.
  • The transaction will grant control of four exploration properties in Arizona and New Mexico: McNary (gold), Boston-Arizona (zinc-polymetallic), Lonepine (gold-tellurium), and Winston (gold-silver).
  • The company plans to change its name to Seahawk Gold Corp. concurrent with the transactions.
  • Existing management will remain, with Sunridge entitled to nominate two additional board members.
  • The company is in the exploration stage with no revenue-generating operations.
Read the original news release →

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