Greencastle Announces Private Placement

About this update from Greencastle Resources Ltd.

Toronto, Ontario--(Newsfile Corp. - February 27, 2026) - Greencastle Resources Ltd. (TSXV: VGN) ("Greencastle" or the "Company") is pleased to announce it intends to complete a non-brokered private placement financing for gross proceeds of up to $200,000 through the issuance of up to 5,000,000 units in the capital of the Company (the "Units") at a price of $0.04 per Unit (the "Offering"). Each Unit shall be comprised of one common share in the capital of the Company (each, a "Common Share") and one whole Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 per Common Share until the date that is two (2) years from the date of issuance. Gross proceeds raised from the Offering will be used for accounts payable. The Company confirms that the gross proceeds will not be used for investor relations or paid to non-arm's length parties. In connection with the Offering, the Company may pay certain eligible finders a cash commission equal to 6% of the gross proceeds of the Offering and may issue such number of finder's warrants (each, a "Finder Warrant") as is equal to 6% of the Units sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.05 per Common Share until the date that is two (2) years from the date of issuance. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is availab...

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