Sorrento Resources Announces Listed Issuer Financing Exemption (LIFE) Non-Brokered Private Placement

Executive Summary

• Sorrento Resources Ltd. announced a non‑brokered private placement of up to 8,000,000 units at CDN $0.25 per unit, targeting gross proceeds of up to CDN $2,000,000.
• Each unit consists of one common share and one warrant; the warrants are exercisable at $0.35 per share for 24 months after closing.
• Net proceeds will be allocated to exploration expenditures, marketing & promotion, and general working capital, with the offering expected to close on or about February 27 2026.

Key Details

• Units Offered: Up to 8,000,000 units at CDN $0.25 per unit.
• Gross Proceeds Target: Up to CDN $2,000,000.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.35 per share; exercisable for 24 months from closing date.
• Exemption Used: Listed issuer financing exemption (LIFE) under NI 45‑106, available to Canadian residents except Quebec. No hold period required.
• Finder’s Fee: Up to 6% of aggregate gross proceeds may be paid as a finder's fee.
• Additional Warrants: Company may issue non‑transferable warrants equal to 6% of units sold, exercisable at $0.35 per share before the 24‑month expiry.
• Use of Proceeds: Exploration expenditures, marketing and promotion, and general working capital.
• Closing Date: Expected on or about February 27 2026, subject to customary conditions including CSE approval.
• Regulatory Notices: No offer or solicitation in the United States; securities not registered under the U.S. 1933 Act.

Notable Quotes

(No direct quotes were provided in the release.)