Forge Resources raises $3.3 million in private placement

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) completed the initial closing of a private placement offering, issuing 6,687,000 units at $0.50 per unit for gross proceeds of $3,343,500.

Ventum Financial Corp. served as lead agent and sole bookrunner for the offering. Each unit consists of one common share and one half of one common share purchase warrant. The warrants allow holders to purchase one common share at $0.75 per share for three years, expiring March 27, 2029.

The company issued the units under the Listed Issuer Financing Exemption in Canadian provinces except Quebec. The securities are not subject to a statutory hold period under Canadian securities laws.

Forge Resources paid a 7% cash commission and issued compensation options equal to 7% of the offering to the agent. The compensation options permit the holder to acquire units at $0.50 per unit for three years, expiring March 27, 2029. These options are subject to a four-month-and-one-day hold period.

Net proceeds will be used as outlined in the company's amended offering document dated February 24, 2026, available on SEDAR+.

Forge Resources is a Canadian exploration company focused on the Alotta project, a copper-gold-molybdenum project covering 4,723 hectares in Yukon Territory. The company also holds an 80% interest in Aion Mining Corp., which is developing the La Estrella coal project in Colombia.

Richards Buell Sutton LLP represented Forge Resources, while Wildeboer Dellelce LLP acted as legal counsel to the agent.

You May Also Be Interested In

• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Air T reports revenue jump but widens operating loss in Q1 fiscal 2027
• Berkshire adds significantly to Alphabet position, starts small position in DR Horton