Corcel Exploration Inc. (CSE: CRCL) (OTCQB: CRLEF) has increased the gross proceeds of its non-brokered private placement from C$1,500,000 to C$2,500,000, according to a press release dated October 5, 2026.

Under the upsized offering, the company will issue up to 25,000,000 units at C$0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share at C$0.20 per share for 24 months following the closing date.

The company stated it intends to use net proceeds for exploration and working capital purposes.

Closing is anticipated on or about October 8, 2026, subject to customary conditions, including submission of required forms to the Canadian Securities Exchange. The company may pay finder's fees to eligible finders in connection with the offering. All securities issued will be subject to a statutory hold period of four months and one day from the closing date.

Corcel Exploration is a mineral resource company focused on the acquisition and exploration of precious and base metals properties in North America.