Norse Gold Announces Closing of Private Placement Financing and Pending Reactivation on the TSX-V

Executive Summary

• Norse Gold Corp. closed its non‑brokered private placement, issuing 10 million units at $0.10 per unit for total gross proceeds of $1,000,000.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.20 for two years; all securities are subject to a four‑month hold period expiring July 25 2026.
• The company submitted final materials to the TSX Venture Exchange to reactivate its listing as a Tier 2 Mining Issuer under the ticker “VKG,” pending final approval.

Key Details

• Financing Structure: 10,000,000 units @ $0.10 per unit → gross proceeds $1,000,000.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.20, 2‑year term).
• Hold Period: Four months for shares and warrants; expires 25 July 2026.
• Insider Participation: 4 insiders purchased 1,995,000 units for $199,500 (≈20% of the offering).
• Use of Proceeds: Payment of outstanding payables and exploration work on the 3,231‑ha Yellowknife Gold Belt property.
• No Finder’s Fees/Warrants: None issued in connection with this financing.
• TSX‑V Reactivation: Conditional approval already received; final materials submitted today; reactivation to take effect at market open on the second trading day after TSX‑V issues its final bulletin.
• Ticker Change: Upon reactivation, the company’s symbol will change from “NEX” to “VKG.”
• Regulatory Conditions: Closing and reactivation subject to final TSX‑V approval; post‑closing filings already submitted.

Notable Quotes

• Tom MacNeill, President & CEO: “The proceeds from this financing will support the payment of outstanding obligations and enable us to advance exploration on our flagship Yellowknife Gold Belt property.”

This release contains forward‑looking statements regarding the use of proceeds and future program updates.