Group Eleven increases bought deal to $10.43-million

Executive Summary

• Group Eleven Resources Corp. upsized its bought‑deal private placement to C$10.4 million, issuing 11,595,000 common shares at C$0.90 each for gross proceeds of $10,435,500.
• Underwriters received an option to purchase up to an additional 1,739,250 shares for up to $1,565,325, potentially increasing total proceeds to ≈ C$12 million.
• Net proceeds will fund exploration drilling at the Ballywire and Stonepark projects, as well as working capital and general corporate purposes.

Key Details

• Placement Size: Increased to C$10.4 M (≈ US$10.44 M).
• Shares Issued: 11,595,000 common shares at C$0.90 per share.
• Gross Proceeds: $10,435,500.
• Underwriter Option: Up to 1,739,250 additional shares at the same price; extra gross proceeds up to ≈ $1,565,325.
• Lead Underwriter: ATB Cormark Capital Markets, on behalf of a syndicate.
• Use of Proceeds:
• Exploration drilling at Ballywire and Stonepark deposits.
• Working capital.
• General corporate purposes.
• Closing Date: Expected on or about March 11, 2026; must close no later than the 45th day after release (≈ April 18, 2026).
• Non‑Brokered Offering to Existing Shareholder: Glencore Canada Corp. may purchase shares on the same terms to maintain its 13.6 % ownership; no underwriting commissions will be paid for this portion.
• Regulatory Framework: Offered under NI 45‑106 prospectus exemptions (Canada) and applicable U.S. securities law exemptions; Canadian shares have no hold period.
• Conditions to Closing: Customary financing conditions, execution of an underwriting agreement, receipt of necessary approvals including conditional acceptance by the TSX Venture Exchange.

Notable Quotes

(No CEO/President quotes were included in the release.)