Sorrento arranges $2-million private placement

Executive Summary

• Sorrento Resources Ltd. has arranged a non-brokered private placement of up to 8 million units at $0.25 per unit, raising up to $2 million in gross proceeds.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.35 per share for 24 months.
• The offering is conducted under the Listed Issuer Financing Exemption (LIFE), meaning no hold period applies to the issued units, and net proceeds will fund exploration, marketing, and working capital.

Key Details

• Structure: Non-brokered private placement of up to 8,000,000 units.
• Price: $0.25 per unit.
• Gross Proceeds: Up to $2,000,000.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Each warrant is exercisable for one common share.
  • Exercise Price: $0.35 per share.
  • Duration: 24 months from the date of closing.
• Finder’s Fees: The company may pay a finder’s fee of up to 6% of aggregate gross proceeds and issue non-transferable warrants equal to 6% of the number of units sold (exercisable at $0.35/share, valid for 24 months).
• Regulatory Basis: Listed Issuer Financing Exemption (LIFE) under National Instrument 45-106, Part 5A.
• Hold Period: No hold period applies to the units issued under this exemption.
• Use of Proceeds: Exploration expenditures, marketing and promotion, and general working capital.
• Closing Date: Scheduled on or about February 27, 2026.
• Conditions: Subject to necessary approvals, including the Canadian Securities Exchange.
• Investor Eligibility: Purchasers resident in Canada, except Quebec.