Norse Gold Announces Application for Reactivation to TSX-V, Private Placement Financing and Stock Options Grant

Executive Summary

• Norse Gold Corp. is applying to reactivate its listing on the TSX Venture Exchange as a Tier 2 Mining Issuer.
• The company announced a non‑brokered private placement of up to 10 million units at $0.10 per unit, targeting gross proceeds of up to $1,000,000.
• A grant of 3.7 million stock options was approved (2 M to directors/executive officers, 1.7 M to consultants) with an exercise price of $0.10 per share, exercisable through February 19 2031.

Key Details

• Reactivation Application
• Seeks TSX‑V Tier 2 Mining Issuer status; shares would move from NEX to TSX‑V upon approval.
• No guarantee of acceptance; contingent on meeting TSX‑V continued listing requirements and having adequate working capital.
• Private Placement Structure
• Up to 10,000,000 Units at $0.10 per Unit → maximum gross proceeds $1,000,000.
• Each Unit = 1 common share + 1 common‑share purchase warrant.
• Warrants allow acquisition of one additional common share at $0.20 for two years from issuance.
• Use of Proceeds
• Pay outstanding payables.
• Fund exploration work on the 3,231‑hectare Yellowknife Gold Belt property (75 km north of Yellowknife).
• Securities Hold Period
• All shares and warrants issued are subject to a four‑month hold period under applicable securities laws.
• Stock Option Grant
• Total options granted: 3,700,000.
• Allocation: 2,000,000 to directors & executive officers; 1,700,000 to consultants.
• Exercise price: $0.10 per share.
• Expiration: on or before February 19 2031, with possible earlier termination per the company’s stock option plan and TSX‑V policies.
• Conditionality
• The financing is contingent upon TSX‑V approval of both the private placement and the reactivation application.

Notable Quotes

(No direct quotes were included in the release.)