Carolina Rush plans C$3 million private placement at C$0.11 per unit

Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) announced plans to complete a non-brokered private placement offering of up to 27,272,727 units at C$0.11 per unit for gross proceeds of up to C$3 million.

Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant allows the holder to purchase one common share at C$0.16 for two years following issuance.

The offering requires shareholder approval related to the company's proposed transaction with OceanaGold Corporation. A special shareholder meeting is scheduled for November 26, 2025, with closing anticipated around December 4, 2025.

"We have received significant interest from current shareholders and new investors since announcing our proposed transaction with OceanaGold," said Layton Croft, president and CEO of Carolina Rush. "The proceeds from this financing will provide us with the flexibility and resources to continue building momentum as we move into the next phase of our growth."

The company plans to use gross proceeds for working capital and general corporate purposes. Closing requires corporate and regulatory approvals, including approval from TSX Venture Exchange. Securities issued will be subject to a four-month-plus-one-day hold period.

Carolina Rush is a southeastern U.S.-focused exploration company advancing the Brewer Gold-Copper Project in South Carolina. The project is located 13 kilometers from OceanaGold's producing Haile Gold Mine, which has 2025 production guidance of 170,000-200,000 ounces of gold.

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