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Astra Exploration Announces Closing of C$15 Million Bought Deal Private Placement, Including Full Exercise of the Underwriters' Option
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) ("Astra" or the "Company") is pleased to
About this update from Astra Exploration Inc
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (\"Astra\" or the \"Company\") is pleased to announce the closing of its previously announced private placement (the \"Offering\") of 19,482,000 common shares of the Company (the \"Shares\") at a price of C$0.77 per Share for aggregate gross proceeds of C$15,001,140, including the full exercise of the underwriters' option. The Offering was led by ATB Capital Markets Corp., as lead underwriter and sole bookrunner, together with Stifel Nicolaus Canada Inc. and Velocity Trade Capital Ltd. (collectively, the \"Underwriters\"). The Company intends to use the net proceeds from the Offering for exploration and development of the La Manchuria project and for general corporate and working capital purposes as described in the amended and restated offering document dated April 22, 2026 related to the Offering that can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca and the Company's website at www.astra-exploration.com. The Shares were sold in reliance of Part 5A.2 of National Instrument 45-106 Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, and will not be subject to a hold period in Canada. In consideration of the services rendered by the Underwriters in connection with the Offering, on closing the Company paid to the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering, subject to a reduction to 3% for orders on the president's list. In addition, the Company paid a finder's fee of 6% cash to an eligible finder in connection with subscriptions from certain purchasers introduced to the Company by such finder. Michael Gentile, an existing shareholder and insider of the Company, participated in the Offering and acquired 324,700 Shares for gross proceeds of C$250,019. The participation of such person in the Offering constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptio...