Business
Gelum Resources Arranges Non-Brokered Private Placement and Change in Officers
Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTCQB: GMRCF) (the "Company" or "Gelum") reports that they h
About this update from Gelum Resources Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTCQB: GMRCF) (the \"Company\" or \"Gelum\") reports that they have arranged non-brokered private placements for which units are currently being allocated. The Company will issue up to 6,521,739 units (the \"Units\") at a price of $0.23 per Unit (the \"Private Placement\") for aggregate proceeds of up to $1,500,000. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, each warrant (the \"Warrants\") entitling the holder thereof to purchase one additional common share of the Company at a price of $0.38 per share for a period of 24 months from the closing of the Private Placement. Expiry of the Warrants may be accelerated if the closing price of the Company's Shares on the Canadian Securities Exchange (\"CSE\") is equal to or greater than $0.76 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants. Finder's fees of 7% cash and 7% finder's warrants may be payable to qualified finders in connection with the Private Placement. All securities issued in connection with the Offering have a four-month and one day hold period in Canada from closing. Finder's fees may be paid to eligible finders in accordance with CSE policies and applicable securities laws. Gross proceeds of the Private Placement will be used for working capital. None of the foregoing securities have been or will be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Change in Officers The Company further reports that Hendrik van Alphen has stepped in as Chief Executive Officer, following the resignation of Mr. David Smith as President. The Company has also appointe...