Business
GARIBALDI RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT
GARIBALDI RESOURCES ANNOUNCES CLOSING OF PRIVATE
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"Vancouver, British Columbia - Garibaldi Resources Corp. (TSXV: GGI) (the 'Company' or 'Garibaldi') announces that, further to its News Releases of May 9, 2025 and July 4, 2025, it has completed its non-brokered private placement (the 'Offering'), pursuant to which it sold an aggregate of 14,401,988 units (each, a 'Unit') at a price of $0.07 per Unit for gross proceeds of $1,008,139.16.\nThe Offering was oversubscribed by $8,139.16. Each Unit consists of one common share (each, a 'Share') of the Company and one common share purchase warrant (each a 'Warrant'), with each Warrant entitling the holder to purchase one Share (each, a 'Warrant Share') at a price of $0.10 per Warrant Share for a period of three years following the closing of the Offering. The Company paid an aggregate of $1,260 to one eligible finder in connection with the Offering. The proceeds from the Offering will be used for exploration and working capital purposes.\nAll Shares and Warrants issued in connection with the Offering and any Shares issuable on exercise of Warrants, are subject to a statutory hold period expiring four months and one day after closing of the Offering. Each of Steve Regoci, the CEO and a director of the Company, Barrie Di Castri, the CFO, Corporate Secretary and a director of the Company and Greg Burnett, a director of the Company (each, an 'Insider') subscribed for an aggregate of 1,192,856 Units under the Offering, each of which are considered to be a 'related party transaction' within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). Each issuance to each of the Insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61- 101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the Shares and Warrants to be issued to each Insider does not exceed 25% of the Company's market capitalization.\nNone of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an appli...