Garibaldi Resources Corp. has structured a non-brokered private placement to raise up to $1.0 million in gross proceeds, shifting away from its previously planned Listed Issuer Financing Exemption offering due to prevailing market conditions.

The financing entails issuing up to 14,285,714 units priced at $0.07 each. Every unit comprises one common share and one share purchase warrant. Each warrant entitles the holder to buy an additional common share at $0.10 for three years following the completion of the offering.

Proceeds from the placement are earmarked for exploration work and general working capital requirements. All securities issued under the arrangement will carry a statutory hold period of four months and one day from the closing date. The placement may include finder's fees payable in cash, securities, or both, and remains subject to formal approval from the TSX Venture Exchange. Insiders of the company may participate in the financing. Any such participation constitutes a related party transaction under Multilateral Instrument 61-101 but is expected to be exempt from the formal valuation and minority shareholder approval requirements of the instrument.

The capital-raising effort directly supports Garibaldi's ongoing operational focus across its Nickel Mountain project, which forms part of a wider 180-square-kilometre claim group within British Columbia's Eskay mining district. That regional land package encompasses both the E&L nickel-copper-cobalt critical metals discovery and the Casper high-grade gold vein discovery. Strategic backing for the company's asset development previously included a lead order for fifty percent of a prior financing provided by major investor Eric Sprott to advance work at both discoveries.

The company now awaits clearance from the TSX Venture Exchange to close the new placement and deploy the raised capital into its exploration targets.

Read the full announcement: Garibaldi Announces Non Brokered Private Placement