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Churchill Resources Announces Fully Subscribed $700,000 Private Placement and Strategic Leadership Changes to Bolster Growth and Operational Execution
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (" Churchill " or the " ...
About this update from Churchill Resources Inc
[{"type":"text","content":"Churchill Resources Announces Fully Subscribed $700,000 Private Placement and Strategic Leadership Changes to Bolster Growth and Operational Execution\n\n\n\n TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (\"\n \n Churchill\n \n \" or the \"\n \n Company\n \n \") (TSXV: CRI) is pleased to announce a non-brokered private placement of common shares to raise gross proceeds of up to $700,000. The Company is also pleased to announce a strategic leadership transition designed to strengthen the Company’s capital markets presence and operational execution as it advances its projects in Newfoundland and Labrador. Effective today, Paul Sobie, will step down from the role of Chief Executive Officer and continue in his capacity as President of the Company, and Conan McIntyre, a current director of Churchill, will assume the role of Chief Executive Officer.\n \n\n\n Private Placement Financing\n \n\n The $700,000 private placement will comprise up to 14,000,000 common shares of the Company at a price of $0.05 per share (the “\n \n Private Placement\n \n ”). The Company intends to use the proceeds from the Private Placement on the advancement of exploration activities at the Company's key projects and for general corporate purposes. The Private Placement is expected to close on or about July 9, 2025, and remains subject to the approval of the TSX Venture Exchange.\n \n\n\n Strategic Leadership Changes\n \n\n The leadership transition is designed to strengthen the Company's strategic and operational capabilities while maximizing continuity benefits.\n \n\n Mr. McIntyre will concentrate on corporate strategy, capital markets activities, and business development, while Paul Sobie will focus on advancing the Company's exploration programs. Mr. McIntyre and Mr. Sobie will continue to serve on the Company's board of directors along with Malik Easah and Bill Fisher, who will continue serving as Chairman.\n \n\n \"This strategic restructuring represents an important evolution for Churchill that will enable us to pursue multiple value-creation opportunities simultaneously while preserving operational expertise and local knowledge,\" said Mr. McIntyre.\n \n\n Mr. Sobie commented: \"I am excited about the opportunity to dedicate my full attention to our exploration activities in Newfoundland and Labrador at Bla...