Churchill Resources Announces Completion of $3,000,000 Private Placement

Executive Summary

• Churchill Resources Inc. closed a non‑brokered private placement of 37.5 million common shares at $0.08 per share, generating gross proceeds of $3 million.
• The company paid eligible finders a cash fee of $210,000 and issued 2.625 million non‑transferable finder warrants (exercise price $0.08, 24‑month term).
• The board approved an aggregate grant of 8.2 million stock options to directors, officers and consultants at an exercise price of $0.14 with a five‑year term.

Key Details

• Placement Size: 37,500,000 common shares sold.
• Price per Share: $0.08.
• Gross Proceeds: $3,000,000.
• Finder Compensation:
• Cash fee of $210,000 (7% of gross proceeds).
• Issuance of 2,625,000 non‑transferable finder warrants (7% of shares sold), each warrant exercisable at $0.08 for a period of 24 months post‑closing.
• Statutory Hold Period: Shares subject to a four‑month and one‑day hold from issuance date.
• Regulatory Condition: Closing remains subject to final approval by the TSX Venture Exchange (TSXV).
• Use of Proceeds: Advance strategic assets in Newfoundland & Labrador, notably the Black Raven Antimony‑Gold Project, and for general corporate purposes.
• Board‑Approved Stock Option Grant: 8.2 million options to directors, officers and consultants; exercise price $0.14; five‑year term.

Notable Quotes

(No direct quotes were provided in the release.)