McLaren Resources Initial Closing of Financing

Executive Summary

• McLaren Resources Inc. closed a non‑brokered private placement of 11,650,000 Common Share Units for gross proceeds of $582,500 at $0.05 per unit.
• The financing includes one common share and one warrant (exercise price $0.10) per unit, with warrants exercisable for 24 months.
• Proceeds will be used for general working capital, primarily to fund exploration activities on its Timmins Gold Region properties.

Key Details

• Units Issued: 11,650,000 Common Share Units (each = 1 common share + 1 warrant).
• Price per Unit: $0.05 → total gross proceeds of $582,500.
• Warrant Terms: Exercise price $0.10 per common share; exercisable for 24 months from issuance date.
• Finder Fees Paid:
• $2,200 cash to Stephen Avenue Securities Inc.
• 104,000 Common Share Units to Haywood Securities Inc.
• 400,000 Common Share Units to Accilent Capital Management Inc. (finder).
• Shareholder Impact: Accilent’s direct and indirect voting interest increased from 28.99% to 30.72% (or 28.48% to 31.01% on a fully diluted basis).
• Additional Funding Goal: Company is arranging up to $750,000 total financing.
• Use of Proceeds: General working capital, including exploration work on the Blue Quartz, McCool, and Kerrs gold properties in the Timmins Gold Region, Ontario.
• Officer & Consultant Options: 2,200,000 common share options granted at $0.10 exercise price, two‑year term.

Notable Quotes

(No direct quotes were provided in the release.)