Abasca Resources Completes Private Placement

Abasca Resources Inc., headquartered in Saskatoon, has finalized its non-brokered private placement announced earlier this year. By issuing 15,625,000 flow-through common shares at $0.16 each, the company raised a total of $2,500,000. The funds are earmarked for enhancing the resource estimate at their Loki Flake Graphite Deposit.

Dawn Zhou, President and CEO, has significantly participated in the offering. 101159623 Saskatchewan Ltd., CSIT Consulting Inc., and 9169601 Canada Inc., all owned by Zhou, subscribed to a total of 13,625,000 FT shares. These transactions are categorized as "related party transactions" under Canadian regulations, though exempt from several financial requirements due to the company's compliance with existing conditions.

This injection of capital will primarily support the 2025 Summer drilling program at the Loki Flake Graphite Deposit, part of the Key Lake South Project.