High Tide arranges private placements

Executive Summary

• High Tide Resources Corp. announced a series of non-brokered private placements to raise up to $6,625,000 in gross proceeds through the issuance of LIFE HD units, Charity Flow-Through (CFT) units, and non-LIFE units.
• The financing includes specific use of proceeds: CFT proceeds are designated for Canadian exploration expenses (drilling, metallurgical testwork, and environmental studies) at the Labrador West iron project, while LIFE and non-LIFE proceeds are for general corporate and working capital purposes.
• The company also disclosed a related-party transaction involving the issuance of $329,084.80 in interest-free promissory notes to directors, officers, and service providers for working capital, exempt from certain minority shareholder approval requirements.

Key Details

• LIFE HD Units:
  • Price: 20 cents per unit.
  • Minimum Sale: 7.5 million units.
  • Composition: One common share and one-half of one common share purchase warrant.
  • Warrant Terms: Exercise price of 30 cents per share; exercisable for 24 months from issuance.
  • Hold Period: Common shares underlying these units are not subject to a hold period.
• Charity Flow-Through (CFT) Units:
  • Price: 27 cents per unit.
  • Minimum Sale: 12.5 million units.
  • Composition: One flow-through common share and one-half of one warrant.
  • Use of Proceeds: To incur Canadian exploration expenses after closing and prior to Dec. 31, 2027, with qualifying expenditures renounced to purchasers on or before Dec. 31, 2026.
  • Specific Projects: Drill program, advance metallurgical testwork, and environmental baseline study at the Labrador West iron project.
• Non-LIFE Units:
  • Price: 20 cents per unit.
  • Maximum Sale: Up to 2 million units.
  • Gross Proceeds: Up to $400,000.
  • Composition: One common share and one-half of one warrant.
  • Hold Period: Common shares, warrants, and warrant shares are subject to a four-month-and-one-day hold period if issued prior to four months from issuance.
• Aggregate Financials:
  • Minimum Aggregate Gross Proceeds: $4,875,000.
  • Maximum Aggregate Gross Proceeds: $6,225,000 (from LIFE and CFT) + up to $400,000 (from non-LIFE) = Up to $6,625,000 total potential gross proceeds.
• Finder’s Compensation:
  • Cash Commission: Up to 7% of gross proceeds.
  • Finders’ Warrants: Up to 7% of the number of offered securities sold.
  • Warrant Terms: Entitle holder to acquire one non-LIFE unit at 20 cents for 24 months from closing.
• Promissory Notes (Related Party Transaction):
  • Date of Issuance: Effective Jan. 31, 2026.
  • Aggregate Value: $329,084.80.
  • Recipients: Certain directors, officers, and service providers.
  • Terms: Interest-free; due and payable no later than Jan. 31, 2028.
  • Regulatory Status: Exempt from formal valuation and minority shareholder approval under MI 61-101 as the value does not exceed 25% of the company's market capitalization.
• Closing Expectations:
  • Expected to close on or about Feb. 25, 2026, subject to regulatory approvals.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.