Business
Royal Road Minerals Announces Closing of Non-Brokered LIFE Financing
Toronto, Ontario--(Newsfile Corp. - November 27, 2025) - Royal Road Minerals Limited. (TSXV: RYR...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Announces Closing of Non-Brokered LIFE FinancingToronto, Ontario--(Newsfile Corp. - November 27, 2025) - Royal Road Minerals Limited. (TSXV: RYR) (OTCQB: RRDMF) (the \"Company\" or \"Royal Road\") is pleased to announce that, further to its press release of November 3, 2025, it has successfully closed its non-brokered private placement offering (the \"Offering\") through the issuance of 27,772,523 ordinary shares (each, a \"Share\") in the capital of the Company at a price of $0.18 per Share for gross proceeds of $5,000,000. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Shares were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 as amended by CSA Coordinated Blanket Order 45-935 (the \"LIFE Exemption\"). Because the Offering was completed pursuant to the LIFE Exemption, the Shares issued pursuant to the Offering are not subject to a hold period pursuant to applicable Canadian securities laws. The Offering attracted solid interest from both existing and new investors.The Company further confirms that its largest shareholder, Rio2 Limited, maintains its approximately 15% equity stake in Royal Road following completion of the Offering.In connection with the closing of the Offering, the Company paid certain eligible persons cash commissions in the aggregate amount of $251,319.23 and issued an aggregate of 1,396,215 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the holder thereof to acquire one Share at a price of $0.18 per Share for a period of thirty-six (36) months from the closing of the Offering.The net proceeds from the Offering will be used to expand drilling programs across Royal Road's properties in Colombia and the Kingdom of Saudi Arabia, as more specifically detailed in the Company's offering document dated November 3, 2025 prepared and filed in accordance with the LIFE Exemption.The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") as insiders of the Company subscribed for an aggreg...