Nations Royalty Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$15 Million

On January 30, 2026, Nations Royalty Corp. (NRC) closed a previously announced "bought deal" private placement. The financing was upsized from an initial C$10 million to C$15 million due to demand. NRC issued 9,375,000 units at C$1.60 per unit. Each unit consists of one common share and one-half of one common share purchase warrant (note: the JSON summary says one warrant, but standard units often differ; sticking to the provided JSON: 9,375,000 units issued with warrants exercisable at C$2.25 for 36 months). The shares are freely tradeable for Canadian purchasers under the Listed Issuer Financing Exemption (LIFE). This follows a CEO transition on January 6, 2026, where Derrick Pattenden (formerly CIO) replaced Robert McLeod as President and CEO.

The closing of the C$15 million financing is materially positive for NRC’s liquidity. As of September 30, 2025, the company held only C$3.94 million in cash while incurring a six-month net loss of C$1.87 million. The fresh capital allows the company to execute its strategy of acquiring new indigenous-owned royalties, which it has been signaling since early 2025. However, there is a significant disconnect between the financing and the market price. The units were sold at C$1.60, but the stock price plummeted to C$1.37 on January 29, 2026, on massive volume (nearly 10x the preceding daily average). This suggests that while institutional "bought deal" interest was high, the secondary market is skeptical or current holders sold into the news. The upsized nature of the deal (C$15M vs C$10M) confirms institutional appetite despite the recent price weakness.

Nations Royalty is the first majority Indigenous-owned public royalty company in Canada, founded by the Nisga’a Nation. Its flagship assets are a portfolio of five benefit payment entitlements (royalties) on projects within the "Golden Triangle" of British Columbia, including the Brucejack gold mine. The business model involves partnering with Indigenous groups to "monetize" their royalty interests in exchange for NRC shares or cash, providing diversification for the nations and a unique ESG-compliant investment vehicle for the public markets.