Valkea Resources announces private placement of up to $3 million

Valkea Resources Corp. (TSXV: OZ) (OTCQB: OZBKF) announced a non-brokered private placement to raise up to C$3 million, according to a company statement.

The private placement will consist of up to 6 million units priced at C$0.50 per unit. Each unit includes one common share and half of one common share purchase warrant.

The warrants will allow holders to purchase one common share at C$0.65 for 24 months following the closing date. If the company's share price on the TSX Venture Exchange equals or exceeds $0.90 for ten consecutive trading days, Valkea may accelerate the warrant expiry date to 30 trading days after providing notice.

The securities will be offered in all Canadian provinces except Quebec under the Listed Issuer Financing Exemption. Securities sold to Canadian residents will not be subject to a hold period under Canadian securities laws, subject to TSXV rules.

The company may pay eligible finders a 6% cash fee on gross proceeds and grant finder's warrants equal to 6% of units introduced by the finder.

Valkea plans to use proceeds for exploration and working capital purposes. The private placement may close in multiple tranches and requires regulatory approvals, including TSXV approval.

The company operates gold exploration projects in Finland's Central Lapland Greenstone Belt, including the Paana project. An offering document is available on SEDAR+ and the company's website for prospective investors.

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