Northwire Canada EditionTuesday, November 10, 2026
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Financings

Greencastle arranges $200,000 financing, appoints CEO

By The Northwire Desk — AI Analysis Feb 27, 2026 · 20:55 VGN · 0.04 Greencastle Resources Ltd.
VGN · Price

Executive Summary

  • Greencastle Resources Ltd. announced a non-brokered private placement for gross proceeds of up to $200,000, issuing up to 5 million units at $0.04 per unit.
  • The company simultaneously announced the appointment of Albert Contardi as Chief Executive Officer and Director, replacing Anthony Roodenburg.
  • Proceeds are designated for accounts payable, and the offering is subject to regulatory approvals including the TSX Venture Exchange.

Key Details

  • Financing Structure: Non-brokered private placement.
  • Units Issued: Up to 5,000,000 units.
  • Price: $0.04 per unit.
  • Gross Proceeds: Up to $200,000.
  • Unit Composition: Each unit consists of one common share and one whole common share purchase warrant.
  • Warrant Terms: Each warrant allows the holder to acquire one common share at $0.05 per share for a period of two years from the date of issuance.
  • Use of Proceeds: Accounts payable.
  • Finder’s Fees: The company may pay a cash commission of 6% of gross proceeds and issue finders' warrants equal to 6% of the units sold. Finders' warrants have identical terms to the investor warrants ($0.05 exercise price, 2-year term).
  • Restrictions: Securities are subject to a hold period of four months plus one day from issuance.
  • Regulatory Status: Closing is subject to corporate and regulatory approvals, specifically the TSX Venture Exchange.
  • Management Change: Albert Contardi appointed as CEO and Director, replacing Anthony Roodenburg.
  • New Executive Profile: Contardi has over 15 years of experience in legal, investment, and capital markets; currently President of Generic Capital Corp; called to the Ontario Bar; Queen's University Law School graduate.

Notable Quotes

  • "Mr. Contardi is a consultant/adviser with over 15 years of legal, investment and capital markets experience. He is currently president of Generic Capital Corp., a Toronto-based exempt market dealer. Mr. Contardi's expertise involves advising and structuring corporate finance transactions in the mining, technology and biotechnology sectors to maximize the value of projects/assets."
Read the original news release →

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