December 30, 2024 – Record Resources Inc. (TSX-V: REC) reports that is has closed its previously announced financing (November 21, 28, 2024 news releases).
Record has closed a $330,000 LIFE Offering and $107,000 first tranche of a Private Placement. The combined Offering raised totals proceeds of $437,000 through the issuance of 14,566,665 Units. Each Unit, priced at $0.03, consisted of one common share and one half-share purchase warrant of the company. Each whole warrant is exercisable at a price of $0.05 per share for a period of 36 months following the closing of the Offering.
In connection with the offering, the company paid a finder’s fee and issued finder shares and finder warrants to EMD Financial Inc., as well as any other registrants participating in the offering, consisting of: (i) cash finder’s fees of 8% of the gross proceeds of the Offering; (ii) finder shares in an amount equal of 4% of the number of Units issued pursuant to the Offering; and (iii) finder warrants in an amount equal of 4% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the Offering.
Completion of the offering is subject to certain conditions including the receipt of all necessary regulatory approvals including the TSX Venture Exchange. The company reports that, following the close of this financing, it will have 103,637,659 shares outstanding.
In other news, the company announces that it is not moving forward with the following option agreements: an option agreement on the La Sarre copper property (July 17, 2024 news release); an option agreement on uranium properties, which included Malborne, Church North and Ferguson Lake properties (May 17, 2024, April 8, 2024, April 9, 2024 news releases).
The company has also abandoned option agreements on the following lithium and uranium properties: White Mud River, O’Malley, Rope Lake properties (December 19, 2024 news release); the Doran lithium property (December 19, 2022 news release); and the Doran-South lithium property (January 10, 2023 news release).
For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
Website: www.recordgoldcorp.com