ASTRA EXPLORATION INC. ANNOUNCES C$5.0M PRIVATE PLACEMENT

Executive Summary

• Astra Exploration Inc. announced a bought‑deal private placement of 8,065,000 shares at C$0.62 per share, generating gross proceeds of approximately C$5.0 million.
• The underwriters received an option to purchase up to an additional 3,226,000 shares for up to C$2.0 million, potentially increasing total financing to ~C$7.0 million.
• Net proceeds are earmarked for exploration activities at the La Manchuria gold‑silver 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 (≈C$5.0 M).
• Underwriter Option: Up to 3,226,000 additional shares at the same price, providing up to C$2,000,120 of extra proceeds.
• Use of Proceeds: Primarily for exploration expenditures on the La Manchuria project (Argentina) and general working capital.
• Financing Structure: Bought‑deal private placement under NI 45‑106 Listed Issuer Financing Exemption; no hold period in Canada.
• Closing Date: Expected on or about October 8, 2025, but must occur no later than the 45th day after the release (i.e., by early November 2025).
• 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 and other required securities law approvals.

Notable Quotes

(No direct quotes were provided in the release.)