Loyalist Exploration Announces $1,700,000 Non-Brokered Private Placement
Executive Summary
- Loyalist Exploration announced a non‑brokered private placement of up to 21,250,000 hard‑dollar common shares at $0.04 each and 17,000,000 flow‑through common shares at $0.05 each, targeting gross proceeds of up to $1.70 million.
- Proceeds from the flow‑through portion will be used for qualifying Canadian exploration expenditures on the Tully Gold Property and related activities; hard‑dollar proceeds will fund marketing, property payments, and general working capital.
- The first closing is expected around December 18, 2025, with a four‑month plus one‑day hold period on all issued securities.
Key Details
- Offering Size & Pricing
- Hard‑dollar common shares: up to 21,250,000 shares @ $0.04 per share → $850,000 gross proceeds.
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Flow‑through (FT) common shares: up to 17,000,000 shares @ $0.05 per share → $850,000 gross proceeds.
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Use of Proceeds – Flow‑Through Shares
- Canadian exploration expenses and flow‑through mining expenditures as defined in the Income Tax Act.
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Specific allocations: exploration & permitting of the Tully Gold Property, data review, digitization, internal resource calculation, exploration planning, commencement of a NI‑43‑101 resource estimate/technical report, and initiation of exploration on the Gold Rush Property.
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Use of Proceeds – Hard‑Dollar Shares
- Marketing activities.
- Property payments for the Gold Rush Property and the DeSantis Property.
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General working capital.
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Related Party Participation
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Certain insiders may participate, constituting a “related party transaction” under MI 61‑101. The company will rely on exemptions from valuation and minority shareholder approval requirements because insider ownership will not exceed 25 % of market capitalization.
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Closing & Hold Period
- First closing anticipated on or about December 18, 2025.
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All securities subject to a hold period expiring four months and one day after issuance.
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Regulatory Conditions
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Completion contingent on receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange.
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Finder’s Fees
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The company may pay finder’s fees to eligible finders in connection with the offering.
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Agency Engagement Update
- Provides an update on engagement with Existing Agency Inc., confirming arm‑length status of its representatives.
Notable Quotes
(No direct quotes were included in the release.)