AFR NuVenture Resources Inc. Amends its Non-Brokered Private Placement

On February 9, 2026, AFR NuVenture Resources Inc. (AFR) amended the terms of its previously announced non-brokered private placement. The company increased the offering price from $0.015 to $0.02 per unit and increased the total target gross proceeds from $125,000 to $150,000. Each unit consists of one common share and one five-year warrant exercisable at $0.05. The proceeds are strictly earmarked: $70,000 for a single-hole drill program at Mary Ann’s Lake, $25,000 for geophysics at the Massey project, and $55,000 for general working capital.

The impact of this news is neutral to slightly positive in a very narrow sense, as it indicates a slight increase in investor appetite (evidenced by the higher price and larger raise). However, in the context of the company's broader financial health, the impact is negligible. - Survival Funding Only: The $150,000 raise is barely enough to cover the existing working capital deficit and one drill hole. It does not address the $490,537 in total liabilities reported in the November 2025 financials. - Dilution: Issuing 7.5 million new shares into a thin market (25.2 million current shares) represents nearly 30% dilution for a very small amount of capital. - Project Limitations: $70,000 for a "one hole" drill program is a "high-stakes, low-probability" play. If that single hole misses, the company has no remaining capital for follow-up.

AFR NuVenture is a micro-cap explorer focused on base metals in Canada. - Flagship Project: Mary Ann’s Lake (Nova Scotia). It is a copper-silver prospect near the historic Stirling mine. It is considered "drill-ready" but has seen zero meaningful exploration recently due to the company's lack of funds. - Secondary Project: Massey Nickel/Copper (Ontario). The company holds an option to earn 100%, but the option requires $325,000 in cash and 9.5 million shares over three years—payments AFR currently cannot afford.