Business
Forge Resources Closes Second Tranche of Private Placement for Total $6 Million
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("Forge" or the "Company") is pleased
About this update from Forge Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) (\"Forge\" or the \"Company\") is pleased to announce the closing of the second tranche of the Company's previously announced brokered private placement financing with Ventum Financial Corp., as agent and sole bookrunner. Further to its press releases on February 18, 2026 and March 27, 2026, the Company has issued an aggregate of 5,313,000 flow-through units (the \"FT Units\") that intend to qualify as \"flow-through shares\" as defined in subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"), at a price of $0.50 per Unit for aggregate gross proceeds of $2,656,500 (the \"Offering\"). Together with the first tranche, the Offering was completed for aggregate gross proceeds of $6,000,000. Each FT Unit consists of one common share issued on a \"flow-through\" basis and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one common share of the Company (a \"Warrant Share\") for a period of 3 years expiring May 7, 2029 at an exercise price of $0.70 per Warrant Share. The securities comprising the FT Units are subject to a statutory hold period of four months. The gross proceeds from the sale of the FT Units will be used to incur exploration expenses that qualify as \"Canadian exploration expenses\" as defined in subsection 66.1(6) of the Tax Act and \"flow-through mining expenditures\" as defined in subsection 127(9) of the Tax Act for purposes of the mineral exploration tax credit (the \"Qualifying Expenditures\"). Such expenses will be incurred on or before December 31, 2027, and renounced to purchasers of the FT Units with an effective date no later than December 31, 2026. In connection with the Offering, the Company paid a cash commission equal to 7.0% of the gross proceeds of the Offering, and issued compensation warrants (\"Compensation Warrants\") equal to 7.0% of the number of FT Units issued under the Offering, to Ventum Financial Corp. and arm's length agents. Each Compensation Warrant entitles the holder to acquire one unit (comprised of one common share of the Company and one Warrant) at a price of $0.50 per unit for a period of 3 years, expiring May 7, 2029. Digital Marketing Forge is pleased to announce that it has engaged SnowBridge Limit...