Golden Pursuit Resources Announces $1 Million Private Placement

Rhea-AI Summary

Golden Pursuit Resources announced a non-brokered private placement to raise up to $1 million through two unit offerings. The company will issue 2.5 million non-flow-through units at $0.20 per unit ($500,000) and 2.0 million flow-through units at $0.25 per unit ($500,000). Each non-flow-through unit includes one common share and half a warrant exercisable at $0.25 for two years, while flow-through units include one flow-through share and half a warrant exercisable at $0.30 for two years. The proceeds will fund exploration at the company's Gordon Lake mineral properties in NWT and general corporate purposes. The offering is subject to TSX-V approval and includes a four-month hold period.

Positive

• Raising up to $1 million in fresh capital for exploration and operations
• Offering includes both flow-through and non-flow-through units providing flexibility for investors
• Proceeds will advance exploration programs at Gordon Lake mineral properties

Negative

• Potential dilution for existing shareholders
• Four-month hold period restricts immediate trading of new shares
• Subject to TSX-V approval which adds uncertainty to the completion

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Golden Pursuit Resources Ltd. (TSXV: GDP) (the "Company" or "GDP") announces that it will conduct a non-brokered private placement of up to 2.5 million non-flow-through units at $0.20 per unit for proceeds of up to $500,000 and 2.0 million flow-through units at $0.25 per unit for proceeds of up to $500,000.

Each non-flow-through unit will consist of one non-flow-through common share and one-half of one non-flow-through warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.25 per share for a period of two years from issuance.

Each flow-through unit will consist of one flow-through common share and one-half of one flow-through warrant. Each whole warrant will entitle the holder to purchase one flow-through common share at a price of $0.30 per share for a period of two years from issuance.

All securities issued in connection with the private placement will be subject to a four-month statutory hold period.

The Company may pay finder's fees in cash, shares or warrants and any combination thereof to investment dealers or others (where permitted by law) and in accordance with the rules of the TSX Venture Exchange.

The private placement proceeds will be used to conduct exploration programs on the Company's mineral properties at Gordon Lake, located in the NWT, and for general corporate purposes.

Completion of the private placement remains subject to the approval of the TSX-V.

GOLDEN PURSUIT RESOURCES LTD.

Per: "Brian McClay"
Brian McClay, President

CONTACT INFORMATION:
Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254677

FAQ

What is the size and structure of Golden Pursuit Resources' private placement?

Golden Pursuit Resources is raising up to $1 million through two unit offerings: $500,000 from non-flow-through units at $0.20 and $500,000 from flow-through units at $0.25.

How will Golden Pursuit Resources (FPVTF) use the proceeds from the private placement?

The proceeds will be used to conduct exploration programs at the company's Gordon Lake mineral properties in NWT and for general corporate purposes.

What are the warrant terms in Golden Pursuit Resources' private placement?

Non-flow-through warrants are exercisable at $0.25 per share, while flow-through warrants are exercisable at $0.30 per share, both for a two-year period.

How long is the hold period for securities issued in Golden Pursuit Resources' private placement?

All securities issued in the private placement will be subject to a four-month statutory hold period.

What regulatory approvals are needed for Golden Pursuit Resources' private placement?

The private placement requires approval from the TSX Venture Exchange (TSX-V) for completion.