Astra Exploration arranges $5-million private placement

Executive Summary

• Astra Exploration Inc. entered into a bought‑deal private placement financing for gross proceeds of $5,000,300 by selling 8,065,000 shares at C$0.62 per share.
• The underwriters received an option to purchase an additional 3,226,000 shares for up to $2,000,120 in gross proceeds.
• Net proceeds are earmarked for exploration activities on the La Manchuria project and general working capital.

Key Details

• Shares sold: 8,065,000 common shares at C$0.62 per share.
• Gross proceeds: $5,000,300 (C$).
• Underwriter option: Up to 3,226,000 additional shares at the same issue price, providing potential extra gross proceeds of $2,000,120.
• Use of proceeds: Primarily for exploration expenditures on the La Manchuria gold‑silver project in Santa Cruz, Argentina, and for general working capital.
• Financing structure: Listed issuer financing under National Instrument 45‑106 (Part 5A.2) with exemptions for Canadian investors (excluding Quebec) and U.S. investors; no hold period in Canada.
• Closing date: Expected on or about October 8, 2025, but must close no later than 45 days after the news release.
• Commission: Cash commission to underwriters equal to 6% of gross proceeds, reduced to 3% for orders on a president list.
• Regulatory conditions: Completion subject to customary conditions, including approval by the TSX Venture Exchange and other required securities law approvals.

Notable Quotes

(No direct quotes were provided in the release.)