Grande Portage Upsizes Private Placement Due to High Demand

Grande Portage Resources Ltd. announces an increase in its non-brokered private placement due to strong institutional interest. The offering will now comprise up to 22.5 million units at $0.20 per unit, aiming to raise $4.5 million. Each unit includes a common share and one warrant exercisable at $0.26, valid for 36 months. This offering is under the LIFE Exemption, targeting investors in Canada (excluding Quebec) and overseas locations adhering to local securities regulations.

Red Cloud Securities Inc. will assist in the offering, earning a 7% commission and warrants for shares. The funds raised will support exploration at Grande Portage's New Amalga Mine project in Alaska. The offering is anticipated to close in several tranches, starting June 13, 2025. It awaits regulatory approval, including that of the TSX Venture Exchange.