Tower Resources increases private placement to $2.15M

Executive Summary

• Tower Resources Ltd. has increased the aggregate gross proceeds of its previously announced non-brokered flow-through private placement to up to $2,157,000.
• The company intends to issue up to 8,628,000 common shares at a price of $0.25 per share, with net proceeds designated for Canadian exploration expenses, specifically a 3,000-metre diamond drilling program on the Rabbit North property.
• The first tranche of the offering closed on October 14, 2025, and the offering includes finder's fees and compensation warrants for qualified non-related parties.

Key Details

• Total Gross Proceeds: Increased to up to $2,157,000.
• Shares Issued: Up to 8,628,000 common shares.
• Price Per Share: $0.25.
• Share Type: Flow-through shares qualifying as Canadian exploration expenses under the Income Tax Act (Canada).
• Use of Proceeds: Expenditures qualifying as Canadian exploration expenses, primarily for a 3,000-metre diamond drilling program on the Rabbit North property.
• Tranche Status: The first tranche of the offering closed on October 14, 2025.
• Finder's Fee: Cash fee equal to 6% of gross proceeds raised.
• Compensation Warrants: Issuable equal to 6% of the total number of common shares sold to qualified non-related parties.
• Warrant Exercise Price: $0.25.
• Warrant Term: One year from the date of issuance.
• Hold Period: Four months and one day from the date of issuance, in accordance with TSX Venture Exchange rules and Canadian securities laws.

Notable Quotes

• None provided in the text.