Scotch Creek closes $130,000 first tranche of financing

Executive Summary

• Scotch Creek Ventures closed the first tranche of its private placement, issuing 2.6 million units at $0.05 per unit for gross proceeds of $130,000.
• Each unit includes one common share and half of a share purchase warrant (full warrant allows purchase of one additional share at $0.075 for 24 months).
• The closing date for the final tranche has been extended to April 15, 2026; net proceeds will be used to retire indebtedness and fund working capital.

Key Details

• Units Issued: 2,600,000 units (first tranche)
• Price per Unit: $0.05
• Gross Proceeds: $130,000
• Unit Composition: 1 common share + ½ share purchase warrant; a full warrant permits purchase of one additional share at $0.075 per share.
• Warrant Term: exercisable for 24 months from issuance date.
• Use of Net Proceeds: repayment of existing debt and general working capital needs.
• Final Tranche Closing Extension: New deadline – April 15, 2026 (originally earlier).

Notable Quotes

(No executive quotes provided in the release.)