August 19, 2025 — Record Resources (TSX-V: REC) reports that it has ended the LIFE and Flow-Through Share Offering of its previously announced non-brokered (see April 29, 2025 news release).
The company announces that it has a new LIFE offering on the same terms as the one previously announced and consists of 10,500,000 units at a price of $0.05 per unit for gross proceeds of up to $525,000. The offering has been structured to take advantage of the listed issuer financing exemption (LIFE) whereby securities of the company issued pursuant to the offering will be freely tradeable equity securities not subject to any hold period.
Each unit consists of one common share and one share purchase warrant of the company. Each whole warrant is exercisable at a price of $0.07 per share for a period of 24 months following the closing of the offering. The company intends to use the net proceeds from the offering for exploration and evaluation of the company’s properties and for general working capital.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the offering is being made to purchasers resident in each of the Provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Exemption”). The securities offered under the Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the company’s website at: www.recordgoldcorp.com. Prospective investors should read this Offering Document before making an investment decision.
Record also announces that the closing of the first tranche of its LIFE Offering raised totals proceeds of $40,000 through the issuance of 800,000 Units. Each Unit, priced at $0.05 consisted of one common share and one share purchase warrant of the company. Each warrant is exercisable at a price of $0.07 per share for a period of 24 months following the closing of the Offering.
There were two participants in the LIFE Offering, including a company director.
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 113,864,854 shares outstanding. No commission or fees were paid in connection with this financing.
In other news, the company announces that it is not pursuing the option agreement for the Lorrain hydrogen property. (see April 24, 2025 news release).