Business
Loyalist Exploration Announces Closing of Non-Brokered Flow Through Financing
Toronto, Ontario – TheNewswire – January 2, 2026 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce the sale of 810
About this update from Loyalist Exploration Limited
[{"type":"text","content":"Toronto, Ontario – TheNewswire – January 2, 2026 – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is pleased to announce the sale of 810,000 Common Shares, each issued as a “flow-through share” (the “FT Shares”) within the meaning of the Income Tax Act (Canada)(the “Tax Act”) at a price of $0.05 per FT Share for gross proceeds of $40,500 (the “Offering”). The proceeds from the sale of FT Shares will be used to incur \"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 (\"Qualifying Expenditures\"). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2025, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. More specifically, the proceeds from the sale of FT Shares will be used for exploration and permitting of the Tully Gold Property, as well as data review, digitization, an internal resource calculation, exploration planning and the commencement of a NI 43-101 resource estimate and technical report, as well the commencement of exploration on the Gold Rush Property. In connection with the Offering, the Company paid finder’s fees of $2,135 and issued 42,700 broker warrants to purchase common shares (each, a “Common Shares”) of the Company at a price of $0.075 per common share, expiring 2 years from issuance. Errol Farr, CEO of Loyalist stated “Loyalist made steady progress in 2025, strengthening its asset base and positioning the Company for future value creation despite challenging market conditions for the junior resource sector. From a corporate standpoint, Loyalist raised over $1.4 million in 2025 to support its strategy. Management is focused on closing the recently announced financing in early 2026 to advance its exploration and corporate objectives”. All of the securities issued and issuable in connection with the Offering are subject to a hold period expiring four months and one day after the date of issuance of the securities. Completion of the Offering and the Acquisition is subject to the receipt of all required regulatory approvals, including the approval of the Canadian Securities Exchange. David Drinkwater, a director of the Company, purchased 200,000 FT Shares under Of...