Astra Exploration Announces $5 Million Bought Deal Financing with Participation from Michael Gentile and Key Shareholders

Executive Summary

• Astra Exploration entered into a bought‑deal private placement with Cormark Securities and syndicate underwriters for 8,065,000 shares at C$0.62 per share, generating gross proceeds of C$5,000,300.
• The underwriters have an option to purchase up to an additional 3,226,000 shares for up to C$2,000,120, potentially increasing total proceeds to ~C$7 M.
• Net proceeds will be used for exploration on the La Manchuria project in Argentina and for general working capital.

Key Details

• Shares Offered: 8,065,000 common shares of Astra Exploration Inc.
• Issue Price: C$0.62 per share.
• Gross Proceeds: C$5,000,300 (initial tranche).
• Underwriter Option: Up to 3,226,000 additional shares at the same price, for up to C$2,000,120 in extra gross proceeds.
• Closing Date: Expected on or about October 8, 2025; must close no later than 45 days after release.
• Use of Proceeds: Primarily for exploration expenditures on the La Manchuria gold‑silver project (Argentina) and general working capital.
• Financing Exemption: Conducted under the Listed Issuer Financing Exemption (NI 45‑106 Part 5A.2) – no hold period in Canada; U.S. resale only via applicable exemptions.
• Commission to Underwriters: Cash commission equal to 6% of gross proceeds, reduced to 3% for orders on a president’s list.
• Regulatory Conditions: Subject to customary closing conditions, including TSX Venture Exchange approval.

Notable Quotes

• No direct quotes were included in the release.