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Conquest Resources Closes Final Tranche of Non-Brokered Private Placement Financing Upsized Financing up to $415,000
Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Conquest Resources Limited (TSXV: CQR) ("Conquest" or the "Company") is pleased to announce that it has closed the final tranche of its previously announced $300,000 non-brokered financing and, due to a high level of interest, the anticipated size of the financing is being increased to $415,000 by issuing 8,300,000 shares at a price of $0.05 per Share for gross proceeds of $415,000 (the "Financing").The gross proceeds from the Financing...
About this update from Conquest Resources Limited
Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Conquest Resources Limited (TSXV: CQR) ("Conquest" or the "Company") is pleased to announce that it has closed the final tranche of its previously announced $300,000 non-brokered financing and, due to a high level of interest, the anticipated size of the financing is being increased to $415,000 by issuing 8,300,000 shares at a price of $0.05 per Share for gross proceeds of $415,000 (the "Financing"). The gross proceeds from the Financing will be used for the Company's Belfast-Teck Mag Project in Ontario, and for working capital and general corporate purposes. In connection with the Financing, the Company has paid an aggregate of $9,000 in cash finder's fees to an arms' length party representing 6% of the gross proceeds of the Shares that were sold to subscribers introduced by such party Insider Participation This private placement by an Insider, who is a 'Related Party' within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions of the Canadian Securities Administrators (the "Instrument") constitutes a 'related party transaction' under the Instrument. The transaction is exempt from the formal valuation and minority shareholder approval requirements of the Instrument by virtue of s. 5.5(c) – distribution of securities for cash; and 5.7(b) – fair market value of not more than $2,500,000, respectively. The Company is relying on the exemptions from the formal valuation requirement under section 5.5(b) of MI 61-101 and the minority shareholder approval requirement under section 5.7(a) of MI 61-101, as the fair market value of the Shares to be issued to the related party does not exceed 25% of the Company's market capitalization. No new control person will be created because of this Private Placement. The Financings are subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. There can be no assurance that the Financings will be completed, whether in whole or in part, and will be subject to a hold period of four months and one day from the closing date of the FT Financings in accordance with applicable securities laws. ABOUT CONQUEST Conquest Resources Limited, incorporated in 1945, is...
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