Scottie Resources closes private placement raising C$21.4M

Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) has closed a brokered private placement and an initial tranche of a non-brokered private placement, raising aggregate gross proceeds of C$21,382,465, according to a company statement.

A total of 7,359,870 shares were issued, including 194,212 flow-through shares, at a price of C$2.90 per common share and C$3.10 per flow-through share. The agents — Velocity Capital Partners, Agentis Capital Markets, and Beacon Securities Limited — received a cash fee of C$442,457.99 and 152,572 compensation warrants exercisable at C$2.90 per share until October 9, 2028.

In connection with the non-brokered tranche, the company paid finder's fees of C$330,306.64 and issued 113,899 finder's warrants, also exercisable at C$2.90 per share until October 9, 2028.

Net proceeds from the common shares will be directed toward working capital and general corporate purposes, including technical studies and permitting at the Scottie Gold Mine Project in British Columbia. Proceeds from the flow-through shares will fund eligible Canadian exploration expenses at the same project, with qualifying expenditures to be renounced to subscribers by December 31, 2026.

The company disclosed that 1,379,310 non-brokered shares and 24,565 flow-through shares were issued to related parties, constituting a related party transaction under Multilateral Instrument 61-101. The company said it qualifies for exemptions from formal valuation and minority shareholder approval requirements, as the transaction value does not exceed 25% of its market capitalization.

Issued shares are subject to a statutory hold period expiring February 10, 2027. The offerings remain subject to final acceptance from the TSX Venture Exchange.

Scottie Resources expects to close a second and final tranche of the non-brokered offering for approximately C$2,600,000 on or about October 14, 2026, pending regulatory approvals.

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