Business
Grande Portage Resources Announces C$5Million Investment by Eric Sprott
Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, BC / ACCESS Newswire / December 4, 2025...
About this update from Grande Portage Resources Ltd.
[{"type":"text","content":"Not for distribution to United States newswire services or for dissemination in the United States.","length":98,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / December 4, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement offering of 20,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for aggregate gross proceeds of C$5,000,000 (the "Offering") to be completed with Mr. Eric Sprott, through 2176423 Ontario Ltd., , who will subscribe for the entire Offering. Each Unit will consist of one common share (a "Common Share") and one-half of one common share purchase warrant, with each whole warrant (a "Warrant") being exercisable to purchase one Common Share at a price of $0.35 per Common Share for a period of two (2) years from the date of grant.","length":818,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds raised from the Offering for exploration and development of the New Amalga Gold deposit as well as general working capital. The securities issued under the Offering will be subject to a four month plus 1 day hold period. Closing of the Offering is subject to customary closing conditions, including final approval of the TSX Venture Exchange (the "TSXV"). In addition, Mr. Sprott will covenant not to exercise any of the Warrants if such exercise will result in him holding in excess of 19.99% of the outstanding Common Shares of the Company, until the Company has obtained the shareholder approval for him to become a new Control Person (as such term is defined in the policies of the TSXV).","length":746,"tagName":"p"},{"type":"text","content":"Ian Klassen, President and CEO, commented: "We are very pleased to see Mr. Sprott increase his equity position in Grande Portage, where he continues to be our largest shareholder. His ongoing support has enabled the Company to advance our high-grade gold project through successive drilling campaigns, baseline pre-NEPA studies, and preparations for next quarter's PEA. This latest capital infusion is significant, positioning the Company to end the year with approximately $10 million in working capital-our strongest financial pos...