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Financings

Geologica applies for partial revocation of CTO

By The Northwire Desk — AI Analysis Mar 17, 2026 · 13:51 GRCM Geologica Resource Corp
GRCM · Price

Executive Summary

  • Geologica Resource Corp. filed an application with the BC Securities Commission to partially revoke a cease‑trade order issued on May 6, 2025.
  • The revocation is sought to enable completion of a private placement debt financing of $150,000 in unsecured promissory notes (8.5% interest).
  • Proceeds will be used to settle outstanding fees, prepare audited and unaudited financial statements for 2024‑2025 periods, and fund costs associated with obtaining a full revocation of the cease‑trade order.

Key Details

  • Regulatory filing: Application submitted to the British Columbia Securities Commission for partial revocation of a failure‑to‑file cease‑trade order (FFCTO).
  • Financing amount: $150,000 total principal via on‑demand unsecured promissory notes.
  • Interest rate: 8.5% per annum accruing on the notes.
  • Investor exemption: Each distribution will rely on the accredited investor exemption under NI 45‑106, Section 2.3.
  • Use of proceeds:
  • Resolve outstanding regulatory and filing fees.
  • Prepare audited financial statements for fiscal year ended Dec 31 2024.
  • Prepare unaudited interim financial statements for quarters ending Mar 31 2025, Jun 30 2025, and Sep 30 2025.
  • Cover all costs related to applying for a full revocation of the FFCTO.
  • Share count: Current issued and outstanding common shares remain at 32,934,653; financing does not affect share count.

Notable Quotes

(No direct quotes provided in the release.)

Read the original news release →

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