Record Resources Closes $1.9 Million Offering to Advance Strategic Growth Initiatives in Gabon, Africa

About this update from Record Resources Inc

[{"type":"text","content":"Record Resources Closes $1.9 Million Offering to Advance Strategic Growth Initiatives in Gabon, AfricaCalgary, Alberta--(Newsfile Corp. - December 23, 2025) - Record Resources Inc. (TSXV: REC) (the \"Company\" or \"Record\") is pleased to announce that it completed its previously announced brokered private placement offering (the \"Offering\") of units of the Company (the \"Units\") at a price of $0.06 per Unit (the \"Offering Price\") for aggregate gross proceeds of approximately $1,900,000, including the full exercise of the agent's option. The Offering was led by Research Capital Corporation as the sole agent and sole bookrunner (the \"Agent\").Each Unit is comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.09 per Common Share at any time June 23, 2028. The Warrants issued pursuant to the LIFE Offering (defined below) under applicable Canadian securities laws shall be exercisable beginning 60 days following the date hereof.The net proceeds from the Offerings will be used to progress strategic growth plans in Gabon, Africa and for working capital and general corporate purposes related to the company's existing oil development and high impact exploration assets. 23,333,332 Units were issued pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions (\"LIFE Offering\"), to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and are not subject to a statutory hold period pursuant to applicable Canadian securities laws. There is a second amended and restated offering document related to the LIFE Offering dated December 22, 2025 that can be accessed under the Company's profile at www.sedarplus.ca and at the Company's website at www.recordresourcesinc.com.8,333,332 Units were issued under a private placement pursuant to applicable prospectus exemptions in accordance with National Instrument 45-106 - Pro...

More updates from Record Resources Inc