Corcel Exploration Closes Non-Brokered Private Placement

Executive Summary

• Corcel Exploration Inc. closed a non‑brokered private placement of 11,681,798 units at CAD $0.18 per unit, generating gross proceeds of CAD $2,102,723.64.
• Each unit includes one common share and half of a common share purchase warrant (full warrant allows purchase of an additional share at CAD $0.30 for up to 24 months, with possible acceleration).
• Net proceeds are earmarked for exploration at the Yuma King Project in Arizona and general working capital; finders’ fees of CAD $67,459.56 were paid and 374,775 finder warrants issued.

Key Details

• Units Issued: 11,681,798
• Price per Unit: CAD $0.18
• Gross Proceeds: CAD $2,102,723.64
• Unit Composition:
• 1 common share
• ½ of a common share purchase warrant (full warrant = right to buy one additional share at CAD $0.30)
• Warrant Terms:
• Exercise price: CAD $0.30 per share
• Expiry: 24 months from closing, subject to acceleration if the ten‑day weighted average CSE price ≥ CAD $0.40 (accelerated expiry 30 days after press release).
• Use of Proceeds: Exploration at Yuma King Project (Arizona) and working capital.
• Finders’ Compensation:
• Cash fee: CAD $67,459.56
• Finder warrants issued: 374,775 (exercise price CAD $0.30, expiry Dec 2 2027).
• Statutory Hold Period: Securities subject to hold until April 3 2026.
• Regulatory Notice: Securities not registered under U.S. securities laws; offering limited to jurisdictions complying with applicable exemptions.

Notable Quotes

(No executive quotes were included in the release.)