21 Oct 2025capital raising announcement● NeutralMajor
Closed a C$40.4 million bought deal: 11,385,000 shares at C$3.55 including the full over-allotment, adding about 11 million shares to a base of roughly 171 million. The first equity raise in the cached record, and it funds permitting rather than drilling.
What it means for a shareholder
11.4m new shares at C$3.55 to raise about C$40.4m. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held C$1,000 of shares (282 at the issue price), your slice goes from 0.000164% to 0.000154% of the company. To keep it you'd need 19 more shares - about C$67 at the issue price.
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