Business
Scottie Announces Closing of The Third and Final Tranche of Its Previously Announced Non-Brokered Financing
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2025) - Scottie Resources Corp. (TSX...
About this update from Scottie Resources Corp.
[{"type":"text","content":"Scottie Announces Closing of The Third and Final Tranche of Its Previously Announced Non-Brokered FinancingVancouver, British Columbia--(Newsfile Corp. - September 12, 2025) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) (\"Scottie\" or the \"Company\") is pleased to announce the closing of the third and final tranche (the \"Third Tranche\") of its previously announced non-brokered private placement financing (the \"Offering\"), through the issuance of 3,417,660 charitable flow-through shares of the Company (\"Charity FT Shares\") at a price of $1.23 per Charity FT Share for gross proceeds of $4,203,721.80. The Company previously closed the first tranche of the Offering on August 11, 2025, for aggregate gross proceeds of $8,386,363.86 through the sale of 6,818,182 Charity FT Shares, and the second tranche of the Offering on August 15, 2025, for aggregate gross proceeds of $3,300,620.40 through the sale of 3,750,705 non-flow through common shares of the Company (\"Common Shares\"). To date, the Company has raised aggregate gross proceeds of $15,890,706.10 through the sale of 10,235,842 Charity FT Shares and 3,750,705 Common Shares.Each Charity FT Share will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).The gross proceeds from the Third Tranche will be used by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as such terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") related to the Scottie Gold Mine Project in British Columbia. Qualifying Expenditures with respect to the Charity FT Shares with also qualify as \"BC flow-through mining expenditures\" as such term is defined in the Income Tax Act (British Columbia). All Qualifying Expenditures will be renounced in favour of the subscribers for the Charity FT Shares effective on or before December 31, 2025. In connection with the Third Tranche, the Company paid cash commissions of $172,651.78 to certain finders and issued 159,825 non-transferable finder's warrants (the \"Finder's Warrants\"). Each Finder's Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.88 per Common Share for a period of 24 months from the date of issuance. In total, the Company paid aggregate ca...