Eastfield Resources Ltd. Announces Closing of Private Placement

Executive Summary

• Eastfield Resources Ltd. closed a non‑brokered private placement, raising $1,000,000 through the sale of 50 million units at $0.02 per unit.
• Each unit includes one common share and one warrant to purchase an additional share at $0.05 (exercisable until October 1 2027).
• Proceeds will fund exploration programs in British Columbia (~40‑50%), general working capital (~30‑40%), and investor‑relations activities (<10%).

Key Details

• Placement Size: 50,000,000 units sold for total gross proceeds of $1,000,000.
• Pricing: $0.02 per unit (equivalent to $0.01 per share plus warrant).
• Unit Composition: 1 common share + 1 share purchase warrant; warrant exercise price $0.05 per share, exercisable until 2027‑10‑01.
• Hold Period: All securities issued are subject to a Canadian hold period expiring on 2026‑02‑02.
• Finder’s Fee: Cash fee of $4,200 paid to Leede Financial Inc. for placement services.
• Use of Proceeds:
• Exploration programs at BC mineral projects – approximately 40 %–50% of net proceeds.
• General working capital, including payments to non‑arm’s‑length parties for administrative services – approximately 30 %–40%.
• Investor‑relations activities – less than 10%.
• Insider Participation: Insiders purchased 4,000,000 units (8 % of total units). This related‑party transaction relied on exemptions under TSX‑V Policy 5.9 and MI 61‑101, as insider participation did not exceed 25 % of market capitalization.

Notable Quotes

• No executive quotes were included in the release.