Renforth closes financing, plans drilling at Parbec

Executive Summary

• Renforth Resources Inc. has closed a $1 million private placement financing, raising capital through the issuance of 40 million units at 2.5 cents per unit to a single investor, Frank Guillemette.
• The company has commenced the permitting process for a major drill program at its Parbec gold deposit in Quebec, planned to consist of 60,000 metres of drilling over two years.
• The financing includes a voting support agreement with the investor for three years and involves warrants exercisable at five cents per share.

Key Details

• Financing Structure:
  • Gross Proceeds: $1,000,000 CAD.
  • Units Issued: 40,000,000 common share units.
  • Price: 2.5 cents per unit.
  • Purchaser: Frank Guillemette (one individual).
  • Warrant Terms: Each unit includes one purchase warrant entitling the holder to buy one additional common share at an exercise price of 5 cents per share for a period of 24 months subsequent to closing.
  • Fees: No fees payable in conjunction with this financing.
  • Regulatory: An early warning report has been filed.
• Investor Agreement:
  • Frank Guillemette entered into a voting support letter agreement.
  • The investor agrees to vote in support of management at shareholder meetings for a period of three years.
  • Guillemette is described as a visionary figure in exploration with past successes including the Philibert gold project and involvement in Northern Superior Resources (acquired by Iamgold in Dec 2025 for ~$375 million).
• Parbec Gold Deposit Drill Program:
  • Status: Permitting process commenced.
  • Scope: 60,000 metres of drilling planned over a two-year period.
  • Objectives:
    • Further define the underground bulk sample target area.
    • Potential increase and reclassification of gold ounces within the deposit.
    • Increase drilling density and target gaps between surface and 300 metres depth.
    • Address downhole gaps between the current deposit model and deeper gold intercepts.
    • Test reinterpretation of structural patterns and gold mineralized intervals identified in past drilling.
• Parbec Operations Update:
  • Chipping program announced on Feb 26, 2026, has been completed.
  • Removal of overburden is expected to commence in the next week or two within the ~320m by 120m area.
  • This phase prepares for surface sampling works once snow melts.
• Corporate Social Responsibility:
  • Sponsorship of Geologize training access for geoscience students across 16 Ontario universities/colleges (reaching >3,000 students).
  • Future intent to support Quebec students with French-language content.

Notable Quotes

• Nicole Brewster, President and CEO: "I believe Renforth will benefit from a patient shareholder in Mr. Guillemette, who has agreed to offer his expertise and support to management. Mr. Guillemette is a visionary figure in exploration whose personal successes include the revival of the Philibert gold project and, while director and a significant shareholder of Northern Superior Resources, an active role in the development of that asset."
• Frank Guillemette: "Renfort's current market capitalization does not reflect the quality of its assets built by Renforth's team."