Saltire Capital closes brokered portion of placement

Executive Summary

• Saltire Capital Ltd. has closed the brokered portion of its private placement, raising gross proceeds of $3,088,716 through the issuance of 262,200 common shares at $11.78 per share.
• The net proceeds are designated to indirectly finance a portion of the cash purchase price for the previously completed acquisition of SanStone Investments Ltd.
• A subsequent non-brokered closing is anticipated on or about August 13, 2025, for certain participating purchasers.

Key Details

• Transaction Structure: Brokered private placement with Paradigm Capital Inc. as lead agent and sole book runner.
• Shares Issued (Brokered): 262,200 common shares.
• Price Per Share: $11.78.
• Gross Proceeds: $3,088,716.
• Use of Proceeds: Indirect financing of the cash purchase price for the acquisition of SanStone Investments Ltd.
• Agent Compensation:
  • Cash fee: 7% of gross proceeds ($216,210.12).
  • Warrants issued: 18,354 common share purchase warrants (equal to 7% of shares issued).
• Warrant Terms:
  • Exercise Price: $14.5228 per common share.
  • Expiration: December 1, 2030, at 5 p.m. (Toronto time).
  • Ratio: One warrant per share purchased.
• Future Closings: One subsequent closing expected on or about August 13, 2025, for non-brokered purchasers.
• Restrictions: All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance under Canadian securities legislation.
• Advisers:
  • Agent: Paradigm Capital Inc.
  • Legal Counsel to Company: Goodmans LLP.
  • Legal Counsel to Agent: Borden Ladner Gervais LLP.

Notable Quotes

• "Saltire is pleased to have completed the private placement, and believes the success of this offering positions the company very well to continue to execute on its strategy," said Andrew Clark, chief executive officer of Saltire.