Sky Gold Closes Oversubscribed Financing

Rhea-AI Summary

Sky Gold (OTC:SRKZF) closed an oversubscribed non‑brokered private placement on October 22, 2025, issuing 23,880,000 units at $0.05 per unit for aggregate gross proceeds of $1,194,000.

Each Unit includes one common share and one half warrant; each whole warrant expires in 36 months with an exercise price of $0.08. Proceeds will be used to advance the Evening Star project in Nevada and for general working capital.

The company paid $70,400 in cash finders' fees and issued 1,688,000 non‑transferable finders' warrants. Insiders subscribed for 1,900,000 units, a related‑party participation relying on MI 61‑101 exemptions. Shares are subject to a four‑month hold under Canadian securities laws.

Positive

• Gross proceeds raised: $1,194,000
• Oversubscribed private placement indicates investor demand
• Warrants extend liquidity: 36‑month exercise window at $0.08

Negative

• New shares issued: 23,880,000 units (potential dilution)
• Finders' compensation: $70,400 cash plus 1,688,000 warrants
• Insider subscription of 1,900,000 units is a related‑party transaction

VANCOUVER, BC / ACCESS Newswire / October 22, 2025 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) is pleased to announce that further to its press release dated October 9, 2025, the Company has closed the oversubscribed, non-brokered private placement. The Company issued 23,880,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $1,194,000. Each Unit is comprised of one common share ("Share") and one half transferable common share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 36-month period after the Closing Date at an exercise price of $0.08 per share. Proceeds raised will be used for advancing the Company's Evening Star project in Nevada as well as for general working capital.

In connection with the closing of the non-brokered private placement, the Company paid total finders' fees of $70,400 cash and 1,688,000 non-transferable finders' warrants to Haywood Securities Inc., Canaccord Genuity Corp., Ventum Financial Corp., Sherbrooke Street Capital (SSC) Inc., Stephen Avenue Securities Inc. and Highgate Group Inc. Each finder's Warrant will entitle the finder to purchase one Warrant Share of the Company for a 36-month period after the Closing Date at an exercise price of $0.08 per share.

A senior officer and directors of the Company have subscribed for an aggregate of 1,900,000 Units as part of the Private Placement, which participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSXV. The Corporation is relying on the exemption for a formal valuation under section 5.5(b) of MI 61-101 (trading on the TSXV), and on the exemption for minority shareholder approval under section 5.7(1)(b) of MI 61-101 (fair market value of less than $2,500,000).

Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.

About Sky Gold Corp.

Sky Gold Corp. is a junior mining exploration company focussed on the Evening Star property located in the prolific Walker Lane trend, approximately 16 kilometers (10 miles) east of the town of Hawthorne, Nevada.

ON BEHALF OF THE BOARD
Mike England
CEO, PRESIDENT & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT
Tel: 1-604-683-3995
Toll Free: 1-888-945-4770

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.

SOURCE: Sky Gold Corp.

View the original press release on ACCESS Newswire

FAQ

How much did Sky Gold (SRKZF) raise in the October 22, 2025 private placement?

Sky Gold raised $1,194,000 by issuing 23,880,000 units at $0.05 per unit.

What are the warrant terms in Sky Gold's SRKZF financing closed October 22, 2025?

Each whole warrant is exercisable for 36 months at an exercise price of $0.08 per share.

How will Sky Gold (SRKZF) use the proceeds from the October 2025 financing?

Proceeds will be used to advance the Evening Star project in Nevada and for general working capital.

Did company insiders participate in Sky Gold's October 2025 private placement (SRKZF)?

Yes; a senior officer and directors subscribed for an aggregate of 1,900,000 units, a related‑party participation.

What finders' fees did Sky Gold pay in the October 2025 financing (SRKZF)?

The company paid $70,400 in cash and issued 1,688,000 non‑transferable finders' warrants.

When are the shares from Sky Gold's October 2025 financing tradable (SRKZF)?

Shares issued under the financing are subject to a four‑month hold under applicable Canadian securities laws.