Axcap arranges $8.16-million private placement

Executive Summary

• Axcap Ventures Inc. announced a fully‑subscribed private placement raising C$8.2 million (US $8.16 million) from a strategic investor acquiring 9.9 % of the company.
• The placement will issue 48 million common shares at C$0.17 per share, with closing expected around Oct. 21, 2025.
• Proceeds are earmarked primarily for general corporate purposes, notably the completion of a preliminary economic assessment (PEA) on the flagship Converse gold project in Nevada.

Key Details

• Offering Structure: Non‑brokered private placement of common shares; 48 million shares to be issued.
• Price & Proceeds: Issue price of C$0.17 per share; aggregate gross proceeds of C$8.2 million (≈ US $8.16 M).
• Investor Ownership: Strategic investor will hold 9.9 % of Axcap’s outstanding common shares post‑closing.
• Closing Date: Expected on or about Oct. 21, 2025.
• Use of Proceeds: Primarily for general corporate purposes, including funding the preliminary economic assessment (PEA) of the Converse gold project.
• Cash Finder’s Fee: Company will pay a cash finder's fee in connection with the offering.
• Statutory Hold Period: Securities subject to a hold period of four months and one day from issuance.
• CEO Quote: John Dorward highlighted that the financing was completed at a “significant premium” to the September 2025 round, reflecting strong investor confidence and positioning the company to unlock Converse’s potential.

Notable Quotes

“This financing will be completed at a significant premium to the price at which we completed our September, 2025, financing, reflecting continuing investor confidence in our business… We are very encouraged by this early momentum and the strong support for our vision.” – John Dorward, CEO, Axcap Ventures Inc.