Gold Runner Exploration Announces Closing of $920,000 Non-Brokered Private Placement

Executive Summary

• Gold Runner Exploration Inc. closed its previously announced non‑brokered private placement, raising gross proceeds of $920,000 from the sale of 4,600,000 units at $0.20 per unit.
• Each unit consists of one common share and one common share purchase warrant (exercise price $0.40, 60‑month term). Units carry a hold period of four months + one day.
• Net proceeds are earmarked for exploration and development of U.S. assets, geological evaluation in Canada, claim and option payments, working capital, and general corporate purposes.

Key Details

• Offering size: 4,600,000 units @ $0.20 per unit → $920,000 gross proceeds.
• Unit composition: 1 common share + 1 warrant (right to purchase one additional common share at $0.40 for 60 months).
• Hold period: Units subject to a lock‑up of four months and one day from issuance under Canadian securities law.
• Regulatory condition: Closing remains subject to CSE approval and other regulatory clearances.
• Use of proceeds:
• Exploration & development of U.S. projects (claims, option payments).
• Geological evaluation of opportunities in Canada.
• Working capital and general corporate purposes.
• Finder’s fees paid:
• Cash payment of $9,600 to Canaccord Genuity Corp. and Ventum Financial Corp.
• Issuance of 48,000 broker warrants, each exercisable at $0.40 per share for a two‑year period.
• Securities registration: Units are not registered under the U.S. Securities Act of 1933 or any state securities laws.

Notable Quotes

(No direct quotes were included in the release.)