North Peak Closes Second and Final Tranche of Previously Announced Non-Brokered Private Placement, Raising Total Funds of $5.675 Million

Executive Summary

• North Peak Resources closed the second and final tranche of its non‑brokered private placement, issuing 1,245,000 units at C$1.00 each for gross proceeds of C$1.245 million.
• The total private placement now amounts to 5,675,000 units raising aggregate gross proceeds of C$5.675 million.
• Proceeds will be used to advance drilling at the Prospect Mountain flagship property, support ongoing business development, and cover general and administrative expenses.

Key Details

• Tranche 2 issuance: 1,245,000 equity units @ C$1.00 per unit → C$1,245,000 gross proceeds.
• Aggregate private placement: 5,675,000 units → C$5,675,000 total gross proceeds (including Tranche 1 of C$4,430,000).
• Unit composition: each unit = 1 common share + ½ warrant; each whole warrant allows purchase of 1 common share at C$1.50 for 12 months (subject to acceleration).
• Acceleration clause: If the common share trades ≥ C$2.00 VWAP for 20 consecutive trading days, North Peak may accelerate warrant expiry to 30 days after notice.
• Use of proceeds: continue drilling at Prospect Mountain (Eureka, Nevada), further business development, and general & administrative expenses.
• Hold period: securities subject to a four‑month hold period per securities law requirements.
• Finder’s fees: 6% cash fee paid to Leede Financial Inc. (C$30,000) and StephenAvenue Securities Inc. (C$3,900).
• Finder’s warrants: 6% warrant issuance – Leede Financial Inc. receives warrants for 30,000 common shares; StephenAvenue Securities Inc. receives warrants for 3,900 common shares (exercise price C$1.00, 12‑month term, non‑transferable, subject to acceleration).

Notable Quotes

• “The successful completion of Tranche 2 provides us with the capital needed to advance our flagship Prospect Mountain project and continue building value for shareholders.” – Rupert Williams, CEO

Materiality Assessment: Material – Positive (significant financing that enables continued exploration and development activities).