North Peak closes $1.24M final tranche of placement

Executive Summary

• North Peak Resources Ltd. closed the second and final tranche of its previously announced non-brokered private placement on March 25, 2026.
• The company raised $1,245,000 in this tranche, bringing the total aggregate gross proceeds from the entire private placement to $5,675,000.
• Proceeds are intended for drilling at the Prospect Mountain property, business development, and general administrative expenses.

Key Details

• Tranche 2 Closing: Closed on March 25, 2026.
• Units Issued (Tranche 2): 1,245,000 equity units.
• Price per Unit: $1.00.
• Gross Proceeds (Tranche 2): $1,245,000.
• Total Private Placement: 5,675,000 units issued across two tranches.
• Total Aggregate Gross Proceeds: $5,675,000 (including $4.43 million from Tranche 1 closed on March 16, 2026).
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Each whole warrant entitles the holder to acquire one common share.
  • Exercise Price: $1.50 per share.
  • Expiration: 12 months from issuance (subject to acceleration).
  • Acceleration Provision: If common shares trade at or above a volume-weighted average price of $2 for 20 consecutive trading days, the company may accelerate warrant expiry to 30 days from notice.
• Use of Proceeds: Continue drilling at flagship property Prospect Mountain (Eureka, Nev.), business development, and general/administrative expenses.
• Hold Period: Securities subject to a four-month hold period.
• Finders' Fees (Tranche 2):
  • Cash fees of 6% paid to:
    • Leede Financial Inc.: $30,000.
    • StephenAvenue Securities Inc.: $3,900.
  • Finders' warrants issued (6% of units sold) to:
    • Leede Financial: Warrants to purchase 30,000 common shares.
    • StephenAvenue Securities: Warrants to purchase 3,900 common shares.
  • Finder Warrant Terms: Non-transferable, $1.00 exercise price, expire 12 months from issuance (subject to acceleration).