Loyalist Exploration Limited has launched a non-brokered private placement aiming to raise up to $1,500,000 through the sale of up to 37,500,000 common shares priced at $0.04 each.

The company holds an overallotment option to issue an additional 12,500,000 common shares for further gross proceeds of up to $500,000. Alongside the equity financing, Loyalist intends to settle up to $200,000 of outstanding debt by issuing up to 5,000,000 common shares at the same $0.04 price to preserve cash. Certain insiders are participating in both the financing and the debt settlement.

Proceeds from the offering are earmarked to complete ongoing National Instrument 43-101 technical reports, which include a preliminary economic assessment and resource estimate on the flagship 100%-owned Tully Gold Project located in the Timmins Gold Camp of northeastern Ontario. Funds will also support ongoing production permitting work at the asset, property payments, and general working capital.

All securities issued under the offering and the debt settlement are subject to a four-month and one-day hold period. Completion remains conditional upon receiving all necessary regulatory approvals, including clearance from the Canadian Securities Exchange, with the first closing anticipated on or about August 31, 2026.

The current $0.04 share price marks an increase from the company’s April 2025 private placement, which priced units at $0.01 per share.

Read the full announcement: Loyalist Announces $1,500,000 Non-Brokered Private Placement and $200,000 Shares for Debt Transaction