Vancouver, British Columbia - Stockworks Gold Inc. (TSXV: STW) ('Stockworks' or the 'Company') further to its May 15, 2026 news release, the Company is pleased to announce that it has closed its$0.10 Unit Private Placement Financing.
The Company has issued 5,936,080 Units, each Unit consisting of one common share in the capital of the Company and one-half common share purchase warrant (each whole warrant, a 'Warrant'), each whole Warrant being exercisable for one additional common share of the Company at an exercise price of $0.15 per share for the first year from the date of issuance and $0.20 per share for the second year from the date of issuance, for aggregate gross proceeds of $593,608.
The Financing is being effected with four insiders of the Company subscribing for a total of $118,108 - 1,181,080Units - that portion of the Financing a 'related party transaction' as such term is defined under Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on exemptions from the formal valuation and minority approval requirements set out in MI 61-101. The Company is exempt from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company's market capitalization.
Cash finder's fees totaling $10,000 and 100,000 non-transferable broker warrants exercisable at $0.15 per share for the first year and $0.20 per share for the second year, have been paid to a registered finder. An additional finder's fee of $23,440 and 234,400 Finder Units, each Finder Unit consisting of 1 common share and 1/2 of a non-transferable share purchase warrant, each full warrant being exercisable at $0.15 per share for the first year and$0.20 per share for the second year from the date of issuance, has been paid to HAG Global Consulting GmbH. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws and Exchange policies.
The proceeds of the Private Placement will be used for general working capital, exploration expenditures, and corporate purposes.
About Stockworks Gold
Stockworks is a publicly traded junior mining company that trades on the TSXV under the symbol STW. The Company is currently focused on its Pirenopolis gold project in Brazil.
Contact:
Email: info@stockworksgold.com
Tel: +1 (778) 476-4625
Statement Regarding Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, 'forward-looking information'). Forward-looking information is frequently identified by words such as 'expects,' 'anticipates,' 'believes,' 'intends,' 'plans,' 'estimates,' 'potential,' 'projects,' and similar expressions, or statements that events or conditions 'will,' 'would,' 'may,' 'could,' or 'should' occur.
Forward-looking information in this news release includes, but is not limited to, statements regarding the interpretation of exploration results, the potential sources of gold mineralization, and the Company's plans for future exploration and advancement of the Pirenopolis Gold Project. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.
These risks and uncertainties include, but are not limited to, risks related to exploration activities, the interpretation of exploration results, commodity price fluctuations, regulatory approvals, and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information contained in this news release is provided as of the date of this news release, and the Company undertakes no obligation to update such information except as required by applicable securities laws.
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