Corcel Exploration arranges $2-million financing

Executive Summary

• Corcel Exploration Inc. announced a non-brokered private placement of up to 11,111,111 units at $0.18 per unit, raising gross proceeds of up to $2 million.
• Each unit consists of one common share and one-half of one common share purchase warrant, exercisable at $0.30 per share for 24 months.
• Net proceeds are intended for exploration and working capital purposes, with closing anticipated around November 28, 2025.

Key Details

• Transaction Structure: Non-brokered private placement of up to 11,111,111 units.
• Price: $0.18 per unit.
• Gross Proceeds: Up to $2,000,000.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.30 per warrant share.
  • Expiry: 24 months following the closing date.
  • Acceleration Clause: If the 10-day weighted average closing price on the Canadian Securities Exchange (CSE) is $\ge$ $0.40, the company may accelerate the expiry date to 30 days following the issuance of the acceleration news release. Unexercised warrants expire immediately upon acceleration without compensation.
• Use of Proceeds: Exploration and working capital purposes.
• Closing Date: Anticipated on or about November 28, 2025, subject to customary conditions including CSE form submissions.
• Fees: The company may pay finders' fees to eligible finders, subject to CSE policies and securities legislation.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the closing date.

Notable Quotes

• None provided in the text.