Exploits closes charity portion of FT financing

Executive Summary

• Exploits Discovery Corp. has closed the charity portion of its flow-through non-brokered private placement, raising approximately $1.45 million.
• The company issued 16,666,666 flow-through common shares to Sidex and NQ Investissement minier at a price of 8.7 cents per share.
• Proceeds are designated for eligible Canadian exploration expenses in Quebec, specifically to fund winter drilling programs on high-priority targets such as Fenton.

Key Details

• Transaction Structure: Non-brokered private placement of flow-through shares.
• Investors: Sidex and NQ Investissement minier.
• Shares Issued: 16,666,666 flow-through common shares.
• Price Per Share: $0.087 (8.7 cents).
• Gross Proceeds: $1,449,999.94.
• Use of Proceeds: To incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures in Quebec, including advancement activities on Quebec gold projects.
• Hold Period: All charity FT shares are subject to a four-month-and-one-day hold period, expiring April 25, 2026.
• Finder’s Fees: An aggregate cash finder's fee of $28,000 was paid; no finders' warrants were issued.
• Tax Qualification: Shares qualify as flow-through shares under Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
• Renunciation Timeline: The company will renounce qualifying expenditures to subscribers with an effective date no later than December 31, 2025.
• Future Tranche: The company intends to close the final tranche of its flow-through financing on or before December 30, 2025.

Notable Quotes

• "This closing is an important endorsement of our Quebec strategy and provides incremental funding to execute our winter drilling program on our highest-priority targets," noted Jeff Swinoga, president and chief executive officer of Exploits. "Our focus is disciplined, technically grounded field execution that advances our highest-conviction targets through drill testing, with near-term milestones at Fenton and across our Quebec portfolio."