North Peak Announces Initial $4.38 Million Closing for Previously Announced Non-Brokered Private Placement

Executive Summary

• North Peak Resources announced the initial closing of its non‑brokered private placement, raising C$4.38 million.
• 4,380,000 equity units were issued at C$1.00 per unit; each unit includes one common share and a half warrant (exercise price C$1.50).
• Proceeds will be used to advance drilling at the Prospect Mountain flagship property, further develop the business, and cover general & administrative expenses.

Key Details

• Gross proceeds: C$4,380,000.
• Units issued: 4,380,000 equity units on March 13 2026 at C$1.00 per unit.
• Unit composition: 1 common share + ½ Common Share purchase warrant (full warrant exercisable for one share at C$1.50).
• Warrant terms: 12‑month expiry; acceleration if the share price ≥ C$2.00 VWAP for 20 consecutive trading days, allowing the company to shorten expiry to 30 days after notice.
• Use of proceeds:
• Continue drilling at Prospect Mountain (Eureka, Nevada).
• Ongoing business development.
• General and administrative expenses.
• Hold period: Securities subject to a four‑month hold period per securities law requirements.
• Finder’s fees (cash): 6 % of gross proceeds paid to:
• Haywood Securities Inc.: C$36,000
• Canaccord Genuity Corp.: C$29,700
• Integral Wealth Securities Ltd.: C$24,000
• Red Cloud Securities Inc.: C$13,800
• Research Capital Corp.: C$1,500
• Finder’s warrants (6 % of units sold): Non‑transferable warrants to purchase common shares at C$1.00, expiring 12 months from issuance:
• Haywood Securities Inc.: 36,000 shares
• Canaccord Genuity Corp.: 29,700 shares
• Integral Wealth Securities Ltd.: 24,000 shares
• Red Cloud Securities Inc.: 13,800 shares
• Research Capital Corp.: 1,500 shares

Notable Quotes

• “The initial closing of our private placement provides essential capital to advance drilling at Prospect Mountain and further our growth strategy,” – Rupert Williams, CEO.