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Financings

Loyalist Exploration Announces Closing of $398,000 Second and Final Tranche of Non-Brokered Financing

By The Northwire Desk — AI Analysis Feb 06, 2026 · 07:00 PNGC · 0.045 Loyalist Exploration Limited
PNGC · Price

Executive Summary

  • Loyalist Exploration completed the second and final tranche of its non‑brokered private placement, raising a total of $438,500.
  • The offering included 7,950,000 common shares at $0.04 each and 1,600,000 flow‑through shares at $0.05 each, plus issuance of 338,000 share purchase warrants ($0.075 exercise price).
  • Proceeds are earmarked for property payments on Gold Rush and DeSantis properties, general working capital, and qualifying exploration expenditures on flow‑through shares.

Key Details

  • Second Tranche Sale:
  • 7,950,000 common shares @ $0.04 / share → $318,000 gross proceeds.

  • 1,600,000 flow‑through (FT) shares @ $0.05 / share → $80,000 gross proceeds.

  • First Tranche Recap: 810,000 FT shares raised $40,500.

  • Total Offering Gross Proceeds: $438,500.

  • Finder’s Fees Paid: $12,020.

  • Warrants Issued: 338,000 share purchase warrants, exercisable at $0.075, expiring two years from issuance.

  • Use of FT Share Proceeds: To incur Canadian exploration expenses and flow‑through mining expenditures; amounts to be renounced to subscribers by Dec 31 2025 (first tranche) and Dec 31 2026 (second tranche).

  • Use of Common Share Proceeds: Property payments on Gold Rush and DeSantis properties and general working capital.

  • Related Party Transactions:

  • Director Michael Cachia purchased 400,000 FT shares.
  • CEO/Director Errol Farr purchased 625,000 common shares.

  • Exemptions from formal valuation/minority approval under MI 61‑101 applied (insider participation ≤25% of market cap).

  • Hold Period: All securities subject to a hold period expiring four months and one day after issuance.

  • Regulatory Conditions: Completion pending required approvals, including Canadian Securities Exchange review.

Notable Quotes

“I am once again very pleased with the support from our current shareholders and would like to welcome our new ones. Permitting and mine planning work is commencing on Tully immediately and the closing process for DeSantis will be completed as soon as possible.” – Errol Farr, CEO

Materiality Assessment: Material – Positive (financing provides needed capital for ongoing exploration and property development).

Read the original news release →

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