Grande Portage Closes C$5Million Equity Raise

Rhea-AI Summary

Grande Portage (OTCQB:GPTRF) closed a non-brokered private placement of 20,000,000 units at C$0.25 per unit for aggregate gross proceeds of C$5,000,000 on December 9, 2025. Each Unit comprises one common share and one-half warrant; each whole warrant is exercisable at C$0.35 for 2 years.

Net proceeds will fund exploration and development of the New Amalga Gold deposit and general working capital. Securities are subject to a four-month hold expiring April 10, 2026. Subscriber Mr. Eric Sprott (through 2176423 Ontario Ltd.) now beneficially owns 35,000,000 shares and 10,000,000 warrants, about 19.7% non-diluted and 24% partially diluted.

Positive

• Raised C$5.0M via private placement
• Proceeds earmarked for New Amalga Gold exploration and development
• Units include 10M warrants exercisable at C$0.35 for 2 years
• Major investor Eric Sprott increased stake to 19.7% non-diluted

Negative

• Potential 24% partial dilution if warrants exercised
• Investor becomes near-control with 19.7% non-diluted ownership
• Warrants and shares subject to a four-month hold until Apr 10, 2026
• Warrant exercise limited to 19.99% ownership until shareholder approval

News Market Reaction

+4.67%

1 alert

+4.67% News Effect

On the day this news was published, GPTRF gained 4.67%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Private placement size: 20,000,000 units Unit price: C$0.25 per Unit Gross proceeds: C$5,000,000 +5 more

8 metrics

Private placement size 20,000,000 units Non-brokered private placement closed with sole subscriber

Unit price C$0.25 per Unit Pricing of equity units in the Offering

Gross proceeds C$5,000,000 Aggregate gross proceeds from the Offering

Warrant exercise price C$0.35 per share Exercise price of each whole warrant for two years

Warrants issued 10,000,000 warrants One-half warrant per Unit subscribed by Eric Sprott

Ownership before financing 15,000,000 shares (9.5%) Eric Sprott’s stake prior to the Offering

Ownership after financing 35,000,000 shares (19.7%) Eric Sprott’s non-diluted stake after closing

Partially diluted stake 24% of shares Assuming exercise of all 10,000,000 warrants

Market Reality Check

Price: $0.3297 Vol: Volume 286,066 vs 20-day ...

high vol

$0.3297 Last Close

Volume Volume 286,066 vs 20-day average 102,813 (relative volume 2.78x) ahead of/around this financing close. high

Technical Shares traded above the 200-day MA of 0.15 with the stock at 0.2695, near the 0.275 52-week high.

Peers on Argus

Peers in the Gold group showed mixed moves, with names like AAUAF up 14.71% whil...

Peers in the Gold group showed mixed moves, with names like AAUAF up 14.71% while others such as CGLCF and RGCCF were down. GPTRF’s 4.67% gain appears more stock-specific and tied to the completed financing and increased cornerstone ownership.

Historical Context

5 past events · Latest: Dec 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Equity financing	Positive	+11.7%	Announced C$5M Eric Sprott private placement for New Amalga funding.
Dec 01	Offtake study	Positive	+0.1%	Independent offtake study validating offsite processing attractiveness for project.
Nov 24	Survey results	Positive	+2.6%	LiDAR survey results supporting engineering and exploration at New Amalga.
Nov 20	Drill permit filing	Positive	-3.4%	Filed 2026 Plan of Operations drill permit with US Forest Service.
Nov 18	Marketing agreement	Positive	+18.2%	Retained Machai Capital for four‑month digital marketing program.

Pattern Detected

Recent news has generally been operationally positive, with most announcements followed by positive or modestly positive price reactions; only the drill permit update saw a short-term divergence.

Recent Company History

Over the last month, Grande Portage has issued multiple updates centered on the New Amalga project and corporate positioning. A C$5.0M investment by Eric Sprott on Dec 04 lifted shares 11.65%, and technical/engineering updates on LiDAR and offtake studies saw mild gains. A drill permit filing on Nov 20 drew a -3.44% reaction, while a marketing mandate on Nov 18 gained 18.18%. Today’s closing of the Sprott-led private placement progresses that previously announced financing.

Market Pulse Summary

This announcement confirms closing of a previously announced non‑brokered private placement of 20,00...

Analysis

This announcement confirms closing of a previously announced non‑brokered private placement of 20,000,000 units at C$0.25 for gross proceeds of C$5,000,000, all subscribed by Eric Sprott. His ownership rises to 19.7% non‑diluted and 24% on a partially diluted basis, with 10,000,000 warrants at C$0.35. Proceeds are earmarked for New Amalga exploration and working capital. Investors may monitor how this larger cornerstone position, warrant overhang, and upcoming project milestones interact with trading near the 52-week high.

Key Terms

non-brokered private placement, common share purchase warrant

2 terms

non-brokered private placement financial

"closed its previously announced non-brokered private placement offering of 20,000,000 units"

A non-brokered private placement is when a company raises money by selling securities (such as shares or bonds) directly to a small group of chosen investors without using a broker or dealer as a middleman. For investors it matters because it can provide faster, lower-cost access to new investment opportunities but may bring higher risk, less liquidity and potential dilution of existing holdings compared with public offerings.

common share purchase warrant financial

"one-half of one common share purchase warrant, with each whole warrant"

A common share purchase warrant is a tradable contract that gives its holder the right, but not the obligation, to buy a company’s common stock at a specified price within a set period. Think of it like a coupon for future shares: if the stock rises above the coupon price it can boost returns for the holder, but when used it increases the number of outstanding shares and can reduce each existing shareholder’s ownership and affect the company’s cash position.

AI-generated analysis. Not financial advice.

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BC / ACCESS Newswire / December 9, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering of 20,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for aggregate gross proceeds of C$5,000,000 (the "Offering") with Mr. Eric Sprott, through 2176423 Ontario Ltd., as the sole subscriber. Each Unit consists of one common share (a "Common Share") and one-half of one common share purchase warrant, with each whole warrant (a "Warrant") being exercisable to purchase one Common Share at a price of $0.35 per Common Share for a period of two (2) years from the date of grant.

The Company intends to use the net proceeds raised from the Offering for exploration and development of the New Amalga Gold deposit as well as general working capital. The securities issued under the Offering will be subject to a four month hold period that expires on April 10, 2026. Closing of the Offering is subject to customary closing conditions, including final approval of the TSX Venture Exchange (the "TSXV"). In addition, Mr. Sprott will covenant not to exercise any of the Warrants if such exercise will result in him holding in excess of 19.99% of the outstanding Common Shares of the Company, until the Company has obtained the shareholder approval for him to become a new Control Person (as such term is defined in the policies of the TSXV).

Mr. Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 20,000,000 Units pursuant to the Offering for total consideration of $5,000,000. Prior to the Offering, Mr. Sprott beneficially owned or controlled 15,000,000 Common Shares, representing approximately 9.5% of the outstanding Common Shares of the Company. Following closing of the Offering, Mr. Sprott beneficially owns or controls 35,000,000 Common Shares and 10,000,000 Warrants, representing approximately 19.7% of the outstanding Common Shares on a non-diluted basis and 24% of the outstanding Common Shares on a partially diluted basis assuming the exercise of all such Warrants.

The Units will be acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire or sell additional securities of the Company, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of Mr. Sprott's early warning report will appear under Grande Portage's SEDAR+ profile at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (1106-7 King Street East, Toronto, ON, M5C 3C5).

About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on advancing the New Amalga Mine project, the outgrowth of the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga property. The New Amalga Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.

The Company's updated NI 43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The mineral resource estimate was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024. Additional information on the New Amalga Mine project is available in the technical report titled "Technical Report of the Herbert Gold Property, Juneau District, Southeast Alaska" dated July 17, 2024, which is available under Grande Portage's SEDAR+ profile at www.sedarplus.ca.

ON BEHALF OF THE BOARD

"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com

Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: the TSXV's final approval of the Offering, the ability to obtain shareholder approval for a new Control Person, the intended use of proceeds from the Offering, and expectations regarding the New Amalga Mine project, including the Company's mineral resources. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. These risks, uncertainties and other factors include, among others, the ability to obtain the TSXV's final approval of the Offering, the final use of proceeds of the Offering, the ability to obtain shareholder approval for a new Control Person and risks associated with the exploration and development of the New Amalga Mine and our mineral resources. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure. These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment, such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data, and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

SOURCE: Grande Portage Resources Limited

View the original press release on ACCESS Newswire

FAQ

What did Grande Portage announce on December 9, 2025 for GPTRF?

Grande Portage closed a private placement of 20,000,000 units for C$5.0M, with units including shares and warrants.

How will Grande Portage use the C$5.0M raised in the GPTRF offering?

The company intends to use net proceeds for exploration and development of the New Amalga Gold deposit and general working capital.

What are the warrant terms in the Grande Portage financing (GPTRF)?

Each whole warrant is exercisable for one share at C$0.35 per share for two years from grant.

How did the December 9, 2025 offering change Eric Sprott's stake in GPTRF?

Following closing, Eric Sprott beneficially owns 35,000,000 shares and 10,000,000 warrants, ~19.7% non-diluted and 24% partially diluted.

Are there ownership or hold restrictions on the securities from the GPTRF placement?

Yes. Issued securities have a four-month hold expiring April 10, 2026, and warrant exercise is limited to avoid >19.99% ownership until shareholder approval.