Churchill Resources Announces Exercise of Warrants for Proceeds of $3.75 Million

Executive Summary

• Churchill Resources reported that all 25 million outstanding common share purchase warrants were exercised at $0.15 per share, generating $3.75 million in cash for the treasury.
• Director Malik Easah exercised 10 million of those warrants, purchasing 10 million common shares for $1.5 million, increasing his ownership to approximately 14.32 % (non‑diluted) and 55.46 % (partially diluted) of the company’s outstanding shares.
• The transaction is disclosed in compliance with Canadian “early warning” requirements; no additional financing terms or use‑of‑proceeds details beyond the cash infusion are provided.

Key Details

• Warrant Exercise: 25,000,000 warrants exercised @ $0.15 per share → $3,750,000 added to treasury.
• Director Purchase: Malik Easah exercised 10,000,000 warrants → acquired 10,000,000 common shares for $1,500,000 (@ $0.15/share).
• Pre‑exercise Ownership (Easah):
• 32,463,000 common shares
• 20,000,000 warrants
• 3,200,000 options
• ~11.32 % diluted, ~17.97 % partially‑diluted ownership.
• Post‑exercise Ownership (Easah):
• 42,463,000 common shares (non‑diluted)
• 10,000,000 remaining warrants
• 3,200,000 options
• ~14.32 % non‑diluted ownership; 55,463,000 shares on a partially diluted basis.
• Purpose of Purchase: Investment intent; director may acquire or dispose of additional securities in the future under market or private terms.
• Compliance Disclosure: Announcement made to satisfy Canadian “early warning” reporting obligations; Easah will file the required report on SEDAR+.

Notable Quotes

(No direct quotes were included in the release.)