Chicane Capital completes second tranche of private placement

Chicane Capital I Corp. (TSXV: CCIC.P) has completed the second tranche of a private placement offering by Elton Resources Corp., raising $625,000 in aggregate gross proceeds, according to a press release dated September 11, 2026.

Elton issued 3,125,000 subscription receipts at $0.20 each. Each subscription receipt entitles the holder to one unit comprising one Elton common share and one-half of a share purchase warrant. Each full warrant is exercisable for three years at $0.30 per share. Upon completion of the proposed qualifying transaction between Chicane and Elton, the shares and warrants will be exchanged for securities of the resulting issuer on a 1:1 basis.

Proceeds are designated for mineral exploration expenditures and general administrative costs. The escrow release deadline is set for November 13, 2026. Upon satisfaction of escrow release conditions, Elton will pay a fiscal advisory cash fee of $37,500 and issue 187,500 advisory warrants exercisable at $0.20 per share for three years.

Chicane also reported results from its annual general and special meeting held August 24, 2026, at which shareholders approved all resolutions related to the proposed transaction. These included a share consolidation, a continuance from Ontario to British Columbia, reconstitution of the board, a name change, adoption of an equity incentive plan, and new post-continuance articles.

Elton shareholders separately approved an amalgamation of Elton with 1589751 B.C. Ltd., a wholly owned subsidiary of Chicane, at a meeting held August 25, 2026.

Trading in Chicane shares remains suspended pending filing and acceptance of all required documentation by the TSX Venture Exchange. The offering and proposed transaction remain subject to final TSXV approval.

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