Kootenay Resources Announces Closing of Final Tranche of Private Placement

About this update from Kootenay Resources, Inc.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, BC / ACCESS Newswire / July 6, 2026 / Kootenay Resources Inc. (TSXV:KTRI) (the "Company" or "Kootenay") is pleased to announce the closing of the second and final tranche (the "Second Tranche") of its previously announced non-brokered private placement of non-flow-through units of the Company (each, a "NFT Unit") at a price of $0.09 per NFT Unit and flow-through units of the Company (each, a "FT Unit") at a price of $0.11 per FT Unit (collectively, the "Units") (the "Private Placement"). Each Unit consisted of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.15, exercisable for a period of 18 months from the applicable closing date of the Private Placement. The first tranche of the Private Placement (the "First Tranche") closed on June 23, 2026. Pursuant to the Second Tranche, the Company issued 422,223 NFT Units and 455,000 FT Units for gross proceeds of $88,050. Following completion of both tranches of the Private Placement, the Company issued an aggregate of 2,507,223 NFT Units and 3,111,590 FT Units for total gross proceeds of $571,225. The Company also issued an aggregate of 5,618,813 Warrants, comprised of (i) 4,771,590 Warrants, each exercisable to acquire one Common Share at a price of $0.15 until December 23, 2027, and (ii) 877,223 Warrants, each exercisable to acquire one Common Share at a price of $0.15 until January 6, 2028. All securities issued under the Private Placement are subject to a statutory hold period of four months, in accordance with applicable Canadian securities laws. In connection with the Second Tranche, the Company paid cash finder's fees of C$4,083 to certain eligible finders on a portion of the Private Placement, in accordance with the policies of the TSX Venture Exchange. The Private Placement remains subject to final acceptance of the TSX Venture Exchange. The Company intends to use the proceeds from the Private Placement for exploration activities on its Moyie Anticline Project, other exploration properties (eligible for "Canadian exploration expenses, which are flow-through mining expenditures), working capital and general corporate purposes. None of the securi...

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