Gold Hunter closes $1.17M first tranche of placement

Executive Summary

• Gold Hunter Resources Inc. closed the first tranche of its non-brokered private placement on December 30, raising total gross proceeds of $1,175,652.04.
• The financing was structured into flow-through units (raising $705,652.04) and non-flow-through "hard dollar" units (raising $470,000), with proceeds allocated to exploration expenses at the Great Northern project and general working capital.
• The company issued broker warrants and paid finders' fees in connection with the transaction, while management highlighted the capital raise as enabling the upcoming drill program at the Doucers Valley Fault structure.

Key Details

• Total Gross Proceeds: $1,175,652.04 raised in the first tranche.
• Flow-Through Units:
  • Amount Raised: $705,652.04.
  • Price: 5.5 cents per unit.
  • Composition: One flow-through common share and one-half of one share purchase warrant per unit.
  • Warrant Terms: Each whole warrant allows purchase of one common share at 8 cents for 36 months.
  • Use of Proceeds: Eligible Canadian exploration expenses (flow-through mining expenditures) for the Great Northern project in Newfoundland.
• Hard Dollar Units (Non-Flow-Through):
  • Amount Raised: $470,000.
  • Price: 5 cents per unit.
  • Composition: One common share and one whole share purchase warrant per unit.
  • Warrant Terms: Each warrant allows purchase of one common share at 7.5 cents for 36 months.
  • Use of Proceeds: General working capital and administrative purposes.
• Finders' Fees and Broker Warrants:
  • Cash Fees Paid: $60,176.
  • Broker Warrants Issued: 1,148,655 non-transferable warrants.
  • Broker Warrant Terms: Each entitles holder to acquire one common share at a price between 7.5 cents and 8 cents for 36 months.
• Project Context: Proceeds support the Great Northern project, which covers 40 kilometres of strike length across 26,237 hectares along the Doucers Valley Fault structure in Newfoundland. The company is preparing for a maiden drill program targeting high-priority anomalies.

Notable Quotes

• "Closing this first tranche provides Gold Hunter with the immediate capital required to advance the Great Northern project. With over $1.1-million secured, we are well positioned to execute our exploration strategy in the new year. We appreciate the strong support from our investors as we prepare for our upcoming drill program along the Doucers Valley Fault structure." — Sean A. Kingsley, President and CEO