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Financings

Conquest closes $415,000 final tranche of financing

By The Northwire Desk — AI Analysis Feb 20, 2026 · 02:30 CQR · 0.07 Conquest Resources Limited
CQR · Price

Executive Summary

  • Conquest Resources Ltd. has closed the final tranche of its previously announced non-brokered private placement, upsizing the total financing from $300,000 to $415,000 due to high investor interest.
  • The company issued 8.3 million shares at a price of $0.05 per share, generating gross proceeds of $415,000.
  • The transaction involves insider participation and is structured as a related party transaction exempt from formal valuation and minority shareholder approval requirements under Canadian securities regulations.

Key Details

  • Transaction Structure: Non-brokered private placement financing.
  • Upsizing: The financing was increased from an initial $300,000 to a final total of $415,000.
  • Share Issuance: 8.3 million shares issued.
  • Price Per Share: $0.05.
  • Gross Proceeds: $415,000.
  • Use of Proceeds: Funding for the Belfast-Teck Mag project in Ontario, working capital, and general corporate purposes.
  • Finder’s Fees: An aggregate of $9,000 in cash finders' fees paid to an arm's-length party, representing 6% of the gross proceeds from shares sold to subscribers introduced by that party.
  • Insider/Related Party Status: The financing includes participation by an insider/related party. It is exempt from formal valuation and minority shareholder approval requirements under Section 5.5(c) and 5.7(b) of Multilateral Instrument 61-101 (MI 61-101) because the fair market value does not exceed $2.5 million.
  • Regulatory Exemptions: The company relies on exemptions under Section 5.5(b) and 5.7(a) of MI 61-101, noting that the fair market value of shares issued to the related party does not exceed 25% of the company's market capitalization.
  • Control: No new control person will be created as a result of this private placement.
  • Conditions: The financing is subject to necessary regulatory approvals, including acceptance by the TSX Venture Exchange.
  • Hold Period: A hold period of four months and one day applies from the closing date in accordance with applicable securities laws.
Read the original news release →

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