Roxmore arranges $30-million private placement

Executive Summary

• Roxmore Resources Inc. has arranged a non-brokered private placement for aggregate gross proceeds of C$30,000,000.
• The company will issue 12.5 million common shares at an issue price of $2.40 per share.
• Proceeds are designated primarily to accelerate the Converse gold project, specifically funding a prefeasibility study (PFS) including 30,000 meters of drilling, reassay programs, and baseline studies.

Key Details

• Transaction Structure: Non-brokered private placement of common shares.
• Gross Proceeds: C$30,000,000.
• Share Issuance: 12.5 million common shares.
• Issue Price: $2.40 per common share.
• Use of Proceeds:
  • Accelerate advancement of the Converse gold project.
  • General corporate purposes.
  • Specific PFS work plan items include:
    • Committing to approximately 30,000 metres of core and reverse circulation drilling for resource infill and extension.
    • Reassay program to enable inclusion of silver grades in future resource estimates.
    • Comprehensive baseline studies and preliminary permitting activities.
    • Hydrogeology and geotechnical drilling.
    • Further detailed metallurgical testwork.
• Investors: Addition of three leading cornerstone investors, specifically highlighting L1 Capital (a leading Australian investor).
• Hold Period: Securities are subject to a statutory hold period of four months and a day from the date of issuance.
• Closing Date: Expected on or about Feb. 27, 2026.
• Conditions: Subject to customary closing conditions, including regulatory approvals and conditional acceptance of the Toronto Stock Exchange.
• Advisers:
  • Financial Adviser: 3L Capital.
  • Australian Broker: Euroz Hartleys Ltd.
• Project Context: The Converse gold project contains 5.57 million ounces of measured and indicated mineral resources and 420,000 oz of inferred mineral resources. The preliminary economic assessment (PEA) is on track for release in the second quarter of the year.

Notable Quotes

• "This financing will be completed at a significant premium to the price of our recent financings and adds three leading cornerstone investors to our register. It is designed to provide us with a strong and durable capital foundation as we advance the preliminary economic assessment at our flagship Converse gold project in Nevada, USA, which remains on track to be released in the second quarter of this year. Importantly, this financing allows us to accelerate the commencement of the prefeasibility study and start making commitments for key work streams. The structure and scale of the offering reflect growing alignment with long-term investors who understand the development pathway at the Converse gold project. We are particularly encouraged by the addition of L1 Capital, a leading Australian investor," said John Dorward, chief executive officer of the company.