Abasca Resources Announces Arrangement of Non-Brokered Private Placement of up to $3.0 Million
Abasca raised $3 million at a premium to fund a preliminary economic assessment and drilling at its graphite project.
Abasca Resources Inc. announced a non-brokered private placement to raise up to $3.0 million in gross proceeds. The transaction consists of 10,000,000 Flow-through Shares priced at $0.25 per share and 2,500,000 Non-Flow-through Shares priced at $0.20 per share. All securities carry a four-month-and-one-day hold period, and closing is subject to TSX Venture Exchange approval.
Proceeds are designated for the 2026 ongoing exploration program at the Loki Flake Graphite Deposit, including the Thor Zone, and for general corporate purposes. The financing follows a significant Mineral Resource Estimate update on July 14, 2026, which upgraded the resource to 6.99 Mt Indicated at 8.27% Cg and 15.83 Mt Inferred at 6.93% Cg.
Abasca Resources Inc. (ABA) has secured a $3.0 million financing to advance its Preliminary Economic Assessment (PEA) and continue delineation drilling at the Loki Deposit and Thor Zone. The placement price of $0.25 for flow-through shares and $0.20 for non-flow-through shares represents approximately a 100% premium to the recent trading range of $0.09–$0.10. This transaction serves as an expected, incremental follow-up to previous financings, including $2.5 million raised in May 2026 and $3.0 million in March 2026, which have consistently funded the company's "Fast-Track Roadmap to Production." While a resource upgrade on July 14 materially de-risked the asset, this capital raise is a routine necessity for a pre-revenue explorer, securing the funds required to reach the next technical milestone without altering the project's fundamental timeline or commercial viability.
Abasca Resources Inc. (ABA) is a mineral exploration and development company focused on the 100%-owned Key Lake South Project in northern Saskatchewan, Canada. The company’s flagship asset is the Loki Flake Graphite Deposit, located 15 km south of existing Key Lake mill infrastructure and adjacent to Highway 914.
The project is currently in the exploration and early development stage, with the company advancing a preliminary economic assessment (PEA) to transition toward a feasibility study. The project is situated in the Athabasca Basin, offering proximity to existing mining infrastructure, grid power, and water resources.
As of July 14, 2026, the resource base was updated to 6.99 million tonnes of indicated resources at 8.27% Cg and 15.83 million tonnes of inferred resources at 6.93% Cg, based on a 2.30% Cg cut-off.