North Peak Resources Secures $5.17 Million in Private Placement

North Peak Resources Ltd. announced the closing of its non-brokered private placement, raising C$5.17 million. The company issued 8,614,999 equity units at C$0.60 each. These consist of one common share and one-half share purchase warrant. Each full warrant allows the purchase of one share at C$0.90 within 18 months.

CEO Rupert Williams highlighted the challenging market conditions but credited the successful raise to the quality of North Peak's Nevada properties. The funds will advance exploration, including testing mineralization extensions identified in their 2024 drill program.

The warrants include an acceleration clause if shares trade above C$1.50 for 20 days. Key investors included company insiders, albeit under transactions exempted from minority approval.