Valkea Announces Early Exercise of Warrants by Management and Shareholders

Rhea-AI Summary

Valkea Resources (OTCQB: OZBKF) announced early exercise of 4.5 million warrants by management and cornerstone shareholders on May 7, 2026. Proceeds will fund general corporate purposes, strengthen the technical team in Finland, and expedite programs aimed at recommencing drilling later in the year.

Post-exercise the company reports C$3.2 million cash, 65.2 million issued shares outstanding and 93.1 million fully diluted shares.

Positive

• Early exercise of 4.5M warrants by management and cornerstone shareholders
• Proceeds earmarked to strengthen technical team in Finland
• Post-exercise C$3.2M cash on the balance sheet
• Company targets recommencement of drilling later in the year

Negative

• Fully diluted share count increased to 93.1M, diluting issued shareholders

News Market Reaction – OZBKF

+7.59%

+7.59% Session close to close

In the May 7 session, OZBKF gained 7.59%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Valkea Resources Corp. (TSXV: OZ) (OTCQB: OZBKF) (the "Company" or "Valkea") is pleased to announce the early exercise of 4.5M warrants by management and cornerstone shareholders.

Proceeds from the exercise will be used for general corporate purposes, strengthening the technical team in Finland and expediting certain programs with the goal of timely recommencement of drilling later in the year. Following the early warrant exercise, the Company has cash of C$3.2M and 65.2M issued shares outstanding (93.1M shares on a fully diluted basis).

"The early exercise of warrants is a clear endorsement of the Company's assets and strategic direction established following the recent management transition," stated Thomas Credland, President and CEO of Valkea Resources. "With the expected consolidation of the Central Lapland Greenstone Belt by Agnico Eagle Mines Limited, Valkea is now uniquely positioned as the largest independent Finland-focussed explorer and the second-largest holder of prospective ground in this highly endowed district. Underpinned by a strengthened technical and leadership team, we are systematically developing our prospect pipeline with the goal of recommencing drilling on the highest-priority targets in the second half of the year."

About Valkea Resources

Valkea Resources is a mineral exploration company focussed on a portfolio of properties in the Central Lapland Greenstone Belt of Northern Finland. It is developing a proprietary regional geological model and will employ a proven exploration methodology to systematically generate and progress gold and base metals targets with potential to become high quality mines of the future.

Contact Information

For more information please contact:

Thomas Credland, President, Chief Executive Officer and Director

Tel: +44 7775 501 431 | Email: tcredland@valkea.ca

Neither the 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.

Forward Looking Statements

This news release contains forward-looking statements or forward-looking information relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements in this news release include but are not limited to statements regarding the Company's exploration plans.

Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296365

FAQ

What did Valkea (OZBKF) announce on May 7, 2026 about warrants?

Valkea announced the early exercise of 4.5 million warrants by management and cornerstone shareholders. According to the company, proceeds will support corporate purposes, a strengthened Finland technical team, and faster program timelines toward drilling.

How much cash does Valkea (OZBKF) have after the warrant exercise?

Valkea reported C$3.2 million cash following the early warrant exercise. According to the company, this cash is intended for general corporate use and to fund technical and program priorities in Finland.

What is Valkea's share count after the warrant exercise for OZBKF?

Valkea has 65.2 million issued shares outstanding and 93.1 million fully diluted shares after the exercise. According to the company, the figures reflect exercised warrants and current equity structure.

Will Valkea (OZBKF) restart drilling in 2026 after the warrant exercise?

The company aims to recommence drilling later in the year, targeting the second half of 2026. According to the company, strengthened technical capacity and expedited programs support that goal, but no binding start date was provided.

Why did Valkea say management exercised warrants for OZBKF?

Management and cornerstone shareholders exercised warrants to provide funding and show support for strategy and assets. According to the company, the exercise endorses the strategic direction after a recent management transition.