McLaren Resources Closes Financing

Executive Summary

• McLaren Resources Inc. closed a non‑brokered private placement of 2,323,000 Flow‑Through Units for gross proceeds of $150,995.
• Each FT Unit was priced at $0.065, consisting of one common share and half of a warrant exercisable at $0.10 per share for 24 months.
• Proceeds will be used to fund exploration work on the company’s Timmins Gold Region properties.

Key Details

• Financing Structure: 2,323,000 Flow‑Through Units (FT Units) issued at $0.065 per unit → gross proceeds of $150,995.
• Unit Composition: Each FT Unit = 1 common share (flow‑through) + ½ warrant; each full warrant exercisable at $0.10 per share for 24 months.
• Option Grants: Options to purchase 2,200,000 common shares granted to officers, directors, and consultants at $0.10 per share.
• 500,000 options with a five‑year term.
• 1,700,000 options with a three‑year term.
• Share Issuances for Services: 2,540,000 common shares issued to officers, directors, and consultants at $0.05 per share.
• Finder’s Fee: Accilent Capital Management Inc. received a finder’s fee of 124,000 common shares plus 124,000 warrants.
• Shareholder Impact: Accilent’s direct and indirect voting interest increased from 28.76 % to 28.99 % (fully diluted: 28.31 % to 28.46 %).
• Use of Proceeds: Funding exploration activities on McLaren’s properties in the Timmins Gold Region, which has produced >70 million ounces of gold historically.

Notable Quotes

(No direct quotes were provided in the release.)