Graycliff Closes First Tranche of LIFE Financing
Graycliff Closes First Tranche of LIFE
Financing
Toronto, Ontario--(Newsfile Corp. - July 16, 2026) -
Graycliff Exploration Limited
(CSE: GRAY)
(OTCQB: GRYCF) (FSE: GE0) (the "
Company
" or "
Graycliff
") is pleased to announce it has closed the
first tranche of its previously announces non-brokered private placement offering (the "
Offering
") of up to
8,000,000 units of the Company ("
Units
") at a price of $0.35 per Unit. The first tranche consists of
1,964,457 units for aggregate gross proceeds of $687,560.
Each Unit consists of one common share in
the capital of the Company (a "
Share
") and one-half of one (1/2) common share purchase warrant of the
Company (each whole warrant, a "
Warrant
").
Each Warrant entitles its holder to acquire one additional
Share at an exercise price of $0.55 for a period of twelve (12) months from the date of issuance; the
Warrants may not be exercised for a period of 60 days from the date of issuance.
"The Company intends to use the proceeds of this Offering to begin exploration activities at our
Shakespeare Gold Project in Sudbury and for corporate purposes", stated James Macintosh, Chairman.
Subject to compliance with applicable securities laws and Canadian Securities Exchange policies, the
Company paid eligible finders $57,000, a fee equal to 8% of the cash proceeds received from the sale
of the Units payable in cash and issued 162,880 Warrants (the "
Finder Warrants
") equal to 8% of the
aggregate number of Units issued.
The Finder Warrants have the same terms as the Warrants.
The Units were issued on a private placement basis pursuant to the Listed Issuer Financing Exemption
under Part 5A of National Instrument 45-106 -
Prospectus Exemptions
("
NI
45-106
"), as amended and
supplemented by Coordinated Blanket Order 45-935 -
Exemptions from Certain Conditions of the
Listed Issuer Financing Exemption
(the "
LIFE Exemption
").
Subject to compliance with applicable
regulatory requirements and in accordance with NI 45-106, the Units sold under the Offering pursuant to
the LIFE Exemption will be offered to purchasers resident in each of the provinces and territories of
Canada, except Québec, and such securities are expected to be immediately freely tradeable and will
not be subject to a hold period under applicable Canadian securities laws. There is an offering
document (the "
Offering Document
") related to the Units issuable pursuant to the LIFE Exemption that
can be accessed under the Company's profile at
www.sedarplus.ca
and on the Company's website at
https://graycliffexploration.com/
.
Prospective investors should read the Offering Document before making
an investment decision.
The securities being offered have not been and will not be registered under the U.S. Securities Act
and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons
or persons in the United States, absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would
be unlawful.
About Graycliff Exploration Limited
Graycliff Exploration is a mineral exploration company focused on its 1,366 hectares of prospective
ground, located roughly 88 km west of Sudbury on the prolific Canadian Shield.
The Company's
Shakespeare Project consists of one crown patented lease, two crown leases and 82 claims on a
property that includes the historic Shakespeare Gold Mine, which operated from 1903 to 1907. Graycliff
to date has drilled over 12,900 metres, with visible gold mineralization and significant gold assay
intervals in numerous drill holes. Learn more on the Company's website:
https://graycliffexploration.com
On Behalf of the Board of Directors,
James Macintosh, Chairman
or (416) 271-8300
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release.
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the expectations or beliefs of management of
the Company regarding future events. Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events or results "may", "could", "should",
"would" or "occur". This information and these statements, referred to herein as "forward-looking
statements", are not historical facts, are made as of the date of this news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements
as to management's expectations and intentions with respect to, among other things: the expected
closing date of the Offering; the anticipated proceeds to be raised under the Offering; the intended use
of any proceeds raised under the Offering; and the payment of any finder's fees in connection with the
Offering.
These forward-looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward-looking statements. These risks and
uncertainties include, among other things: the inability of the Company to raise the anticipated
proceeds under the Offering; the inability of the Company to utilize the anticipated proceeds of the
Offering as anticipated; and risks related to global financial markets, including the trading price of the
Company's shares.
In making the forward-looking statements in this news release, the Company has applied several
material assumptions, including without limitation: the Company will be able to raise the anticipated
proceeds under the Offering and on the timeline anticipated; and the Company will use the proceeds
of the Offering as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward-looking statement, forward-looking
information or financial outlook that are incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES
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https://www.newsfilecorp.com/release/305422