Loyalist closes first tranche of non-brokered private placement

Loyalist Announces Closing of First Tranche of Non-Brokered Private Placement

(TheNewswire)

 

Toronto, Ontario – TheNewswire – August 31, 2026 – Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) is pleased to announce the closing of the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”), consisting of the sale of 25,000,000 common shares in the capital of the Company (“Common Shares”) at a price of $0.04 per Common Share for gross proceeds to the Company of $1,000,000. The Offering was previously announced in the Company’s press release dated August 10, 2026.

 

The proceeds from the First Tranche will be used to complete ongoing 43-101 technical reports including a resource estimate and preliminary economic assessment on the Company’s Tully project and on-going production permitting work at Tully, property payments and as well as general working capital.

 

In connection with the First Tranche, the Company paid finder’s fees of $37,200 in cash to Haywood Securities Inc. (“Haywood”) and issued 930,000 non-transferrable broker warrants to Haywood (the “Broker Warrants”). Each Broker Warrant entitles Haywood to acquire one Common Share at an exercise price of $0.075 per Common Share until August 31, 2028.

 

Errol Farr, President and CEO of Loyalist stated, “I would like to thank Haywood and the Buckle group of investors that have been the primary buyers of this closing.”

 

All of the securities issued in connection with the First Tranche are subject to a hold period expiring four months and one day after the date of issuance.

 

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release.

 

About Loyalist Exploration Limited

 

Loyalist is a Canadian mineral exploration and development company focused on creating long-term shareholder value through the advancement of high-quality mineral projects in Timmins, Ontario. The  Company's flagship 100%-owned Tully Gold Project, located in the prolific Timmins Gold Camp of northeastern Ontario, is a growing underground gold project with significant exploration upside and excellent development potential. Supported by a high-confidence Indicated and Inferred Mineral Resource Estimate, favourable infrastructure, and a modern geological model, Tully provides a strong platform for continued development and expansion.