Financings

Gelum Arranges Non-Brokered Private Placement and Change in Officers

By The Northwire Desk — AI Analysis Feb 04, 2026 · 19:09 GMR · 0.29 Gelum Resources Ltd.

GMR · Price

Gelum Resources Ltd. announced a non‑brokered private placement of up to 6,521,739 units at $0.23 per unit, targeting gross proceeds of up to $1,500,000 for working capital.
Each unit includes one common share and half of a warrant allowing purchase of an additional share at $0.38 for 24 months; accelerated exercise provisions apply if the CSE price reaches $0.76 for 20 consecutive trading days.
Leadership transition: Hendrik van Alphen appointed Chief Executive Officer (succeeding David Smith) and Stuart Ross appointed Chief Financial Officer (succeeding Sead Hamzagic).

Units Offered: Up to 6,521,739 units at $0.23 per unit.
Aggregate Proceeds: Up to $1,500,000.
Unit Composition:
1 common share of Gelum Resources Ltd.
½ of one common‑share purchase warrant (full warrant exercisable for an additional share at $0.38).
Warrant Terms:
Exercise price: $0.38 per share.
Validity: 24 months from private placement closing.
Acceleration clause: If CSE closing price ≥ $0.76 for a minimum of 20 consecutive trading days, the holder may receive accelerated expiry notice per warrant terms.
Finder’s Fees: 7% cash and 7% finder’s warrants payable to qualified finders in connection with the placement.
Holding Period: All securities subject to a four‑month plus one‑day hold period in Canada from closing.
Use of Proceeds: Entire gross proceeds will be allocated to working capital needs.
Regulatory Notice: Securities not registered under U.S. securities laws; offering unavailable to U.S. persons absent exemption.

CEO Appointment: Hendrik van Alphen assumes role of Chief Executive Officer, succeeding former President David Smith (who resigned).
CFO Appointment: Stuart Ross appointed Chief Financial Officer, succeeding Sead Hamzagic (who resigned).
Company expressed gratitude to departing executives for their service.

(No direct quotes were provided in the release.)

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