Carolina Rush Extends Warrants

Rhea-AI Summary

Carolina Rush (OTCQB: PUCCF, TSXV: RUSH) received TSX Venture Exchange approval to extend the expiry of 7,452,468 common share purchase warrants. The warrants, issued from an August 15, 2023 brokered private placement of 14,904,936 units at $0.15 per unit, have an exercise price of $0.20 per share.

According to the company, a supplemental warrant indenture amends the warrant expiry from August 15, 2026 to August 15, 2027, with all other terms unchanged. Carolina Rush continues to advance its Brewer Gold-Copper Project in South Carolina under a US$20 million earn-in agreement with OceanaGold.

Positive

• Extension of 7,452,468 warrants to August 15, 2027
• Warrants exercisable at $0.20 could provide future equity funding
• Backed by US$20 million Brewer earn-in with OceanaGold

Negative

• Full exercise of 7,452,468 warrants would increase share count

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Toronto, Ontario--(Newsfile Corp. - August 10, 2026) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (the "Company") is pleased to announce that, further to its press release of July 14, 2026, it has received approval from the TSX Venture Exchange to extend the expiry date of an aggregate of 7,452,468 common share purchase warrants (each, a "Warrant"). The 7,452,468 Warrants were originally issued pursuant to a brokered private placement offering of 14,904,936 units in the capital of the Company at a price of $0.15 per unit which closed on August 15, 2023. Each unit was comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until August 15, 2026. In connection with the extension of the expiry date of the Warrants, the Company has enter into a supplemental warrant indenture amending the expiry date of the Warrants from August 15, 2026 to August 15, 2027. All other terms and conditions of the Warrants remain unchanged.

About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a mineral exploration company focused on the discovery of gold and copper deposits in the southeastern United States. The Company is advancing the Brewer Gold-Copper Project in Chesterfield County, South Carolina. Brewer is a large, underexplored hydrothermal system with a near-surface epithermal gold NI 43-101 mineral resource and compelling exploration potential for deeper porphyry copper-gold mineralization. Brewer is currently being explored in partnership with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) under a US$20 million earn-in agreement. Brewer is located 13 km from OceanaGold's producing Haile Gold Mine. Information from nearby properties is not necessarily indicative of the mineralization at Brewer.

For further information, please contact:
Layton Croft, President and CEO or
Jeanny So, Corporate Communications Manager
E: info@thecarolinarush.com
T: +1.647.202.0994

For additional information, please visit our website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush.

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.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309071

FAQ

What warrant extension did Carolina Rush (PUCCF) announce on August 10, 2026?

Carolina Rush extended the expiry of 7,452,468 common share purchase warrants by one year. According to the company, the warrants now expire on August 15, 2027, while all other terms, including the $0.20 exercise price, remain unchanged.

What are the terms of Carolina Rush (PUCCF) warrants issued in August 2023?

Each warrant allows the holder to buy one common share at $0.20. According to Carolina Rush, the 7,452,468 warrants came from a brokered private placement of 14,904,936 units at $0.15 per unit that closed on August 15, 2023.

How could the extended warrants affect Carolina Rush (PUCCF) shareholders?

If exercised, the 7,452,468 warrants would increase the number of outstanding shares. According to Carolina Rush, each warrant converts to one common share at $0.20, potentially providing additional capital while creating dilution for existing shareholders.

What project is Carolina Rush (PUCCF) advancing with OceanaGold?

Carolina Rush is advancing the Brewer Gold-Copper Project in South Carolina with OceanaGold. According to the company, Brewer is under a US$20 million earn-in agreement and hosts a near-surface epithermal gold NI 43-101 mineral resource with deeper exploration potential.

What was included in the Carolina Rush (PUCCF) August 15, 2023 financing units?

Each unit consisted of one common share and one-half of one warrant. According to Carolina Rush, the 14,904,936 units were sold at $0.15 per unit, with each full warrant exercisable at $0.20 for one common share.

Does the Carolina Rush (PUCCF) warrant extension change any other warrant terms?

The extension only changes the expiry date from August 15, 2026, to August 15, 2027. According to Carolina Rush, all other warrant terms and conditions, including the $0.20 exercise price, remain the same as originally issued.