Golcap Increases and Closes First Tranche of Flow Through Share Financing

Rhea-AI Summary

Golcap Resources (GCRCF) closed the first tranche of a non‑brokered flow‑through private placement on November 27, 2025, issuing 1,403,508 FT shares at $0.285 for gross proceeds of $399,999.78. The company paid a $24,000 commission and issued 84,210 finder warrants exercisable at $0.285 until November 27, 2027. All securities carry a four‑month‑plus‑one hold expiring March 28, 2026. An additional $285,000 subscription has been received and the final tranche is expected to close on or about December 1, 2025.

The gross proceeds will be used to incur eligible Canadian exploration expenses on Quebec properties and the company will renounce those qualifying expenditures to purchasers with an effective date no later than December 31, 2025.

Positive

• First tranche raised $399,999.78
• Secured additional subscription of $285,000
• Proceeds earmarked for eligible Canadian exploration expenses in Quebec

Negative

• Issued 84,210 finder warrants exercisable until Nov 27, 2027
• Paid $24,000 in commission on the tranche
• Securities subject to hold period expiring March 28, 2026

Vancouver, British Columbia--(Newsfile Corp. - November 27, 2025) - Golcap Resources Corp. (CSE: GCP) (the "Company" or "Golcap Resources") announces that, further to its news release of November 20, 2025, it has closed the first tranche of its non-brokered private placement (the "Offering") and issued 1,403,508 flow through common shares ("FT Shares") at a price of $0.285 per FT Share for gross proceeds of $399,999.78. The Company paid commission of $24,000 and issued 84,210 finder warrants at a price of $0.285 per share for a period of two years expiring November 27, 2027. All securities issued are subject to a four month and one day hold period expiring March 28, 2026. The Company has received an additional subscription for $285,000 and expects to close the final tranche on or about December 1, 2025.

The gross proceeds received by the Company from the Offering will be used to incur eligible "Canadian exploration expenses" (the "Qualifying Expenditures") on the Company's properties in Quebec that qualify as "critical flow-through mining expenditures" within the meaning of the Income Tax Act (Canada) and "flow through mining expenditures" as defined in the Taxation Act (Quebec). The Company will renounce the Qualifying Expenditures so incurred to the purchasers of the FT Shares with an effective date of no later than December 31, 2025.

FOR FURTHER INFORMATION, CONTACT:

Christopher Reynolds
Interim Chief Executive Officer

Garry Stock
Director

Golcap Resources Corp.
Telephone: 778-819-3793

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276096

FAQ

How many flow‑through shares did Golcap (GCRCF) issue in the first tranche on November 27, 2025?

Golcap issued 1,403,508 FT shares at $0.285 per share in the first tranche.

What were the gross proceeds from Golcap's (GCRCF) first tranche flow‑through financing?

The first tranche generated gross proceeds of $399,999.78.

When does Golcap (GCRCF) expect to close the final tranche of the offering?

The company expects to close the final tranche on or about December 1, 2025.

What will Golcap (GCRCF) use the flow‑through proceeds for and when will expenditures be renounced?

Proceeds will fund eligible Canadian exploration expenses in Quebec and will be renounced no later than December 31, 2025.

What finder compensation did Golcap (GCRCF) pay for the November 27, 2025 tranche?

The company paid a $24,000 commission and issued 84,210 finder warrants exercisable at $0.285 until Nov 27, 2027.