“This closure is an important validation of our Québec strategy and provides additional funding to execute our winter drilling program on our highest priority objectives,” said Jeff Swinoga, President & CEO of Exploits. “Our focus is on disciplined, technically sound field execution that advances our objectives with the highest conviction through drill testing, with near-term milestones at Fenton and across our Québec portfolio. We thank SIDEX and NQ Investissement minier for their support and partnership.”
Each Charity FT Share is intended to qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) and, to the extent applicable, under section 359.1 of the Tax law (Quebec).
The gross proceeds from the Charity FT Financing will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenses” (as both terms are defined in the Tax Act) (the “Qualifying Expenses”) in Québec in connection with the Company’s exploration portfolio, including development activities for its gold projects in Québec.
The eligible expenses will be incurred on or before December 31, 2026, and the Company will waive the eligible expenses to the subscribers of the Charity FT Shares with effect from no later than December 31, 2025, in an aggregate amount not less than the gross proceeds from the issuance of the Charity FT Shares.
In connection with the Charity FT financing, the Company paid certain eligible finders a total cash finder’s fee of $28,000. No finder’s warrants have been issued. Payment of finder’s fees is subject to compliance with applicable securities laws and CSE policies.
The Company intends to close the final tranche of its flow-through financing on or before December 30, 2025.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to US Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.
About SIDEX
SIDEX is an initiative of the Government of Québec and the Fonds de solidarité FTQ. Its mission is to invest in mineral exploration companies in Québec to diversify the province’s mineral base, promote innovation and encourage new entrepreneurs.
About NQIM
NQ Investissement Minier (NQIM) is a Matagami-based regional investment fund focused on mining development in Northern Quebec. The fund provides financial support and strategic expertise to exploration companies, with investments guided by a sustainable and responsible approach, promoting positive spin-offs for local and indigenous communities.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian gold exploration company focused on growing ounces in leading mining jurisdictions in Québec and Ontario, anchored by approximately 680,000 ounces of historic gold resources at its Fenton, Wilson, Benoist and Hawkins projects. The company also has a strategic equity position and royalty exposure in New Found Gold Corp. in Newfoundland following the sale of its Newfoundland claims in 2025. Exploits’ strategy is to unlock district-level potential across its balanced Québec-Ontario portfolio through systematic, data-driven exploration and strategic partnerships, creating shareholder value through resource discovery and growth.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Not for distribution to United States Newswire Services or for distribution in the United States
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