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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

Executive Summary

  • 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).

Key Details

  • 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.

Executive Leadership Changes

  • 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.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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Financings