Business
Scottie Announces Closing of Its Previously Announced Non-Brokered Financing
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2025) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) ("Scottie" or the "Company...
About this update from Scottie Resources Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 3, 2025) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) ("Scottie" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement financing (the "Offering"), through the issuance of 11,327,420 charitable flow-through shares of the Company ("Charity FT Shares") at a price of $2.14 per Charity FT Share for gross proceeds of $24,240,678.80. Ocean Partners UK Limited ("Ocean Partners") provided a lead order of approximately $5 million, translating to $6,903,224.84 million in charitable flow-through funding.","length":687,"tagName":"p"},{"type":"text","content":"Each Charity FT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).","length":144,"tagName":"p"},{"type":"text","content":"The gross proceeds from the Offering 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 will 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.","length":686,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Company paid cash commissions of $153,450 to certain finders and issued 99,000 non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to purchase one common share in the capital of the Company at an exercise price of $1.76 per common share for a period of 24 months from the date of issuance.","length":408,"tagName":"p"},{"type":"text","content":"The Offering remains subject to final acceptance from the TSX Venture Exchange (the "TSXV"). All securities issued in the Offering are subject to a hold period expiring on April 4, 2026, in addition to such othe...