Loyalist Exploration Completes Second Tranche of Private Placement
Toronto, Ontario — February 6, 2026 — Leads & Copy — Loyalist Exploration Limited (CSE: PNGC) has announced the closing of the second and final tranche of its non-brokered private placement, initially announced on October 8, 2025.
The Second Tranche involved the sale of 7,950,000 hard dollar common shares at $0.04 per share, generating gross proceeds of $318,000. Additionally, 1,600,000 common shares were issued as “flow-through shares” at $0.05 per share, resulting in aggregate gross proceeds of $80,000.
The First Tranche of the Offering consisted of the sale of 810,000 FT Shares for aggregate gross proceeds of $40,500. The total gross proceeds from both tranches amounted to $438,500.
In connection with the Second Tranche, Loyalist Exploration paid finder’s fees of $12,020 and issued 338,000 share purchase warrants. These warrants are exercisable at $0.075 and expire two years from the issuance date.
The company plans to use the proceeds from the sale of FT Shares for “Canadian exploration expenses” and “flow through mining expenditures.” These proceeds will be renounced to the subscribers with an effective date no later than December 31, 2025, for the First Tranche and December 31, 2026, for the Second Tranche.
The proceeds from the sale of the Common Shares will be used for property payments on the Gold Rush Property and the DeSantis Property, as well as for general working capital.
Errol Farr, CEO of Loyalist, expressed satisfaction with the support from existing shareholders and welcomed new investors. He noted that permitting and mine planning work is commencing on Tully, and the closing process for DeSantis will be completed as soon as possible.
All securities issued in connection with the Offering are subject to a hold period expiring four months and one day after the issuance date. Completion of the Offering is subject to required regulatory approvals, including approval from the Canadian Securities Exchange.
Michael Cachia, a director of Loyalist Exploration, acquired 400,000 FT Shares in the Offering. Errol Farr, the CEO and a director, acquired 625,000 Common Shares. These transactions are considered “related party transactions” under Multilateral Instrument 61‑101. The company is relying on exemptions from formal valuation and minority approval requirements, as the fair market value of the Offering related to insiders’ participation does not exceed 25% of the company’s market capitalization.
The securities offered have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. This release does not constitute an offer for sale of securities in the United States.
Neither the Canadian Securities Exchange nor its Market Regulator have reviewed or accept responsibility for the accuracy of this release.
Loyalist Exploration Limited is focused on acquiring, exploring, and developing mineral properties in Canada, particularly in the Timmins, Ontario mining district. The company’s “Buy Timmins” strategy includes the Tully gold property, the Loveland nickel/copper/gold property, the Gold Rush gold/silver property, and the DeSantis gold property. The company plans to commence a mining permit project at Tully and exploration activities on all four properties.
Source: Loyalist Exploration
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