Golcap Resources Closes Final Tranche of Flow Through Share Financing

Rhea-AI Summary

Golcap Resources (symbol: GCRCF) closed the final tranche of its non-brokered private placement, issuing 1,000,000 flow-through shares at $0.285 per share for gross proceeds of $285,000. The company paid a commission of $17,100 and issued 60,000 finder warrants exercisable at $0.285 until December 1, 2027. All securities carry a four-month-and-one-day hold expiring April 2, 2026. Proceeds will be used to incur eligible Canadian exploration expenses on the company’s Quebec properties and will be renounced to purchasers with an effective date no later than December 31, 2025.

Positive

• Gross proceeds of $285,000 raised for exploration
• Proceeds dedicated to eligible Canadian exploration expenses in Quebec
• Flow-through structure provides tax benefits to purchasers

Negative

• Issued 1,000,000 shares causing immediate equity dilution
• Issued 60,000 finder warrants exercisable at $0.285 (expiry Dec 1, 2027)
• Paid $17,100 commission, reducing net proceeds

Vancouver, British Columbia--(Newsfile Corp. - December 1, 2025) - Golcap Resources Corp. (CSE: GCP) (the "Company" or "Golcap Resources") announces that, further to its news releases of November 20^th and November 27^th, 2025 , it has closed the final tranche of its non-brokered private placement (the "Offering") and issued an additional 1,000,000 flow through common shares ("FT Shares") at a price of $0.285 per FT Share for gross proceeds of $285,000. The Company paid commission of $17,100 and issued 60,000 finder warrants at a price of $0.285 per share for a period of two years expiring December 1, 2027. All securities issued are subject to a four month and one day hold period expiring April 2, 2026.

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"flow through mining expenditures" within the meaning of the Income Tax Act (Canada) and 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/276407

FAQ

How many flow-through shares did Golcap Resources (GCRCF) issue in the final tranche on December 1, 2025?

Golcap issued 1,000,000 flow-through shares at $0.285 per share on December 1, 2025.

What were the total gross proceeds from Golcap Resources' final tranche financing (GCRCF)?

The final tranche generated $285,000 in gross proceeds.

What finder fees and warrants did Golcap Resources (GCRCF) grant in the financing?

The company paid a commission of $17,100 and issued 60,000 finder warrants at $0.285, expiring December 1, 2027.

When do the securities from Golcap's flow-through financing (GCRCF) become tradable?

All securities are subject to a four-month-and-one-day hold period expiring on April 2, 2026.

How will Golcap Resources (GCRCF) use the funds from the flow-through share offering?

Proceeds will be used to incur eligible Canadian exploration expenses on the company's Quebec properties.

By what date will Golcap renounce the qualifying expenditures for the FT shares (GCRCF)?

The company will renounce the qualifying expenditures with an effective date no later than December 31, 2025.