Record Resources Announces Upsize of Offering to $1.8 Million to Advance Strategic Growth Initiatives in Gabon, Africa

Executive Summary

• Record Resources Inc. has upsized its brokered private placement offering from $500,000 to $1,800,000 due to strong investor demand.
• The offering consists of units priced at $0.06 per unit, with each unit comprising one common share and one-half of a common share purchase warrant.
• Net proceeds will be utilized for strategic growth plans in Gabon, Africa, as well as working capital and general corporate purposes.

Key Details

• Offering Size: Upsized to $1,800,000 (previously $500,000).
• Price: $0.06 per Unit.
• Structure:
  • LIFE Offering: $1,400,000 issued on a prospectus-exempt basis under the Listed Issuer Financing Exemption (LIFE). Units are immediately "free-trading" upon closing.
  • Private Placement Offering: $400,000 issued under NI 45-106 exemptions. Units have a statutory hold period of four months and one day from closing.
• Warrant Terms (Investor Warrants):
  • Each Unit includes one-half of a Common Share purchase warrant.
  • Exercise Price: $0.09 per Common Share.
  • Term: 30 months following closing.
  • Exercise Start: 60 days following closing for LIFE Offering warrants.
• Agent Commission:
  • Cash Commission: 8.0% of aggregate gross proceeds.
  • Broker Warrants: Equal to 8.0% of the number of Units sold.
  • Broker Warrant Terms: Exercise price of $0.06 per Unit for 30 months following closing.
• Agent's Option: The Agent (Research Capital Corporation) has an option to increase the Private Placement Offering by up to $100,000 prior to closing.
• Use of Proceeds: Progressing strategic growth plans in Gabon, Africa; working capital; and general corporate purposes related to existing oil development and high-impact exploration assets.
• Closing Date: Expected on or about the week of December 22, 2025, subject to regulatory approvals including conditional approval from the TSX Venture Exchange.
• Regulatory Framework: Offerings conducted under Canadian securities laws (except Quebec) and applicable US private placement exemptions.

Notable Quotes

• No direct quotes from the CEO or President were included in the text of this release.