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EDM Strengthens Treasury with $1.5 Million of Warrant Exercises by Directors, Insiders and Major Shareholders
Halifax, Nova Scotia--(Newsfile Corp. - June 24, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (OTCQB: EDMFF) ("EDM" or the "Company") is pleased to announce that certain directors, insiders and major shareholders have exercised common share purchase warrants generating gross proceeds of approximately $1.5 million, providing significant additional capital to advance the Scotia Mine, fund ongoing exploration and development activities, and strengthen the Company's working capital position.The
About this update from EDM Resources
Halifax, Nova Scotia--(Newsfile Corp. - June 24, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (OTCQB: EDMFF) ("EDM" or the "Company") is pleased to announce that certain directors, insiders and major shareholders have exercised common share purchase warrants generating gross proceeds of approximately $1.5 million, providing significant additional capital to advance the Scotia Mine, fund ongoing exploration and development activities, and strengthen the Company's working capital position. The President and CEO, Mr. Mark Haywood, commented: "We are extremely pleased with the strong support demonstrated by our directors, officers, insiders and major shareholders through the exercise of approximately $1.5 million of warrants. The additional capital significantly strengthens EDM's treasury, increases financial flexibility, and supports continued advancement of key permitting, exploration and development initiatives while maintaining a disciplined approach to future dilution. We believe this level of insider participation reflects continued confidence in the Company's strategy and the long-term value potential of the Scotia Mine." The warrant exercises follow several recent corporate milestones achieved by the Company, including commencement of trading on the OTCQB® Venture Market in the United States, advancement of the Fisheries Act Authorization review process with the application currently under federal review, and commencement of gold exploration. The Warrants were issued pursuant to the Company's non-brokered private placement financings that closed on October 29, 2024, November 28, 2024 and November 12, 2025, with an exercise price of $0.14 per common share. Following the warrant exercises, the Company has approximately 22.6 million warrants outstanding at an exercise price of $0.14 per common share, representing potential additional proceeds of approximately $3.2 million if exercised. With the proceeds from the warrant exercises added to its existing cash on hand, EDM has significantly strengthened its treasury to advance the Scotia Mine in a disciplined and minimally dilutive manner, including supporting ongoing Fisheries Act Authorization activities, advancement of an updated Pre-Feasibility Study, and continued development of the Company's gold exploration program. The Company intends to use the ...