Sign Up

Churchill Resources Announces Completion of $700,000 Private Placement

TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- Further to its news release of June 26, 2025, Churchill Resources Inc. ("Churchill" or the "Company") (TSXV:CRI) is pleased to announce the closing of its previously announced non-brokered private placement, consisting of the sale of 14,000,000 common shares of the Company (the "Shares") at a price of $0.05 per Share for gross proceeds of $700,000 (the "Private Placement").

The Company intends to use the proceeds from the Private Placement on the advancement of exploration activities at the Company's key projects and for general corporate purposes.

No agency fees, finder's fees or similar fees were paid in connection with the Private Placement.

The Share issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the "TSXV").

Certain insiders of the Company acquired an aggregate of 3,000,000 Shares in the Private Placement. Participation by such insiders in the Private Placement was considered a "related party transaction" pursuant to Multilateral Instrument 61- 101,  Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report less than 21 days in advance of the closing of the Private Placement as the participation of the insiders had not been confirmed at that time.

About Churchill Resources Inc.

Churchill Resources Inc. is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in Newfoundland and Labrador. The Company's flagship Black Raven property features a polymetallic metal assemblage with evidence of historical production, representing a unique exploration opportunity as the site of past producers that has never been systematically drilled using modern techniques. The Churchill management team, board, and advisors have decades of combined experience in mineral exploration and in ...