Blast Resources Closes $215,000 Private Placement
Vancouver, British Columbia — December 23, 2025 — Leads & Copy — Blast Resources Inc. (CSE: BLST) has closed its previously announced non-brokered private placement LIFE offering, issuing 860,000 units at $0.25 per unit for gross proceeds of $215,000.
Each unit comprises one common share and one transferable common share purchase warrant. Each warrant allows the holder to buy an additional common share at $0.35 until December 23, 2027, subject to acceleration. The warrants cannot be exercised until February 22, 2026, which is the 61st day after the offering closed.
The company holds the right to accelerate the warrants. If the company’s shares close at or above $0.50 for 10 consecutive trading days, Blast Resources can issue a news release to warrant holders stating that the warrants will expire at 5:00 p.m. (Vancouver time) on the 30th day following the notice, unless exercised before that date. Holders will then have 30 days to exercise their warrants, after which any unexercised warrants will expire.
Blast Resources paid cash finder’s fees of $21,500 in connection with the offering.
The company intends to use the proceeds from the offering for exploration at its Wales Lake property, as well as for working capital and general corporate purposes.
The units were issued under the listed issuer financing exemption, as per Part 5A of National Instrument 45-106. The securities issued to Canadian residents are not subject to resale restrictions, in accordance with NI 45-106. The company is relying on exemptions in Coordinated Blanket Order 45-935 and is qualified to distribute securities under these exemptions.
Blast Resources is a mineral exploration company trading on the Canadian Securities Exchange. It holds an option on a mineral exploration project in Saskatchewan, located near Highway 955 south of Wales Lake, just outside the southwest margin of the Athabasca Basin.
James Casey Forward, President and CEO
For further information, please contact:
E-mail: info@blastresources.com
Phone: 778-688-1799
Source: Blast Resources Inc.
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