Scottie arranges $23.5-million private placement

Executive Summary

• Scottie Resources Corp. has arranged a non-brokered private placement offering of up to 10,981,308 charitable flow-through shares for gross proceeds of up to $23.5 million.
• The proceeds will be used to incur eligible Canadian exploration expenses related to the Scottie gold mine project in British Columbia, specifically for diamond drilling and field work during the 2026 field season.
• The offering is subject to regulatory approval, including that of the TSX Venture Exchange, and carries a statutory four-month hold period.

Key Details

• Transaction Structure: Non-brokered private placement of charitable flow-through shares.
• Quantity: Up to 10,981,308 charitable flow-through shares.
• Price: $2.14 per charity FT share.
• Gross Proceeds: Up to $23.5 million.
• Use of Proceeds: To incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures for the Scottie gold mine project in British Columbia.
• Specific Activities: Funds will advance the Scottie gold mine project with diamond drilling and field work during the 2026 field season.
• Tax Treatment: Shares qualify as flow-through shares under Subsection 66(15) of the Income Tax Act (Canada) and B.C. flow-through mining expenditures. Qualifying expenditures will be renounced in favor of subscribers effective on or before Dec. 31, 2025.
• Finder’s Fees: The company may engage arm's-length parties who may receive cash finder's fees and/or warrants for introducing subscribers, subject to TSX-V rules.
• Insider Participation: Insiders may acquire securities under the offering, treated as a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.
• Hold Period: Securities are subject to a statutory four-month hold period.
• Approvals: Subject to regulatory approval, including TSX Venture Exchange approval.

Notable Quotes

• None provided in the text.