High Tide Resources Announces Closing of Concurrent Non-Brokered Private Placements
High Tide Resources Announces Closing of Concurrent Non-Brokered
Private Placements for Gross Proceeds of $8.3 Million
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Toronto, ON – March 23, 2026 – High Tide Resources Corp. (“High Tide Resources ” or the “Company”)
(CSE: HTRC) is pleased to announce the closing of its previously announced concurrent non-brokered
private placements for aggregate gross proceeds of $8,327,000 (the “Offerings”).
The Offerings were comprised of the sale of (i) 7,500,000 units of the Company (the “ LIFE HD Units”) at a
price of $0.20 per LIFE HD Unit, (ii) 22,500,000 charity flow-through units of the Company (the “CFT Units”,
and together with the LIFE HD Units, the “ LIFE Offered Securities”) at a price of $0.27 per CFT Unit for
aggregate gross proceeds of $7,575,000 (the sale of the LIFE HD Units and CFT Units, is referred to as the
“LIFE Offering”), and (iii) 3,760,000 units of the Company (the “Non-LIFE Units”, together with the LIFE HD
Units, the CFT Units, the “Units”) at a price of $0.20 per Non-LIFE Unit for gross proceeds of $752,000.
Each LIFE HD Unit consists of one common share of the Company (a “Common Share”) and one-half of one
Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to
acquire one Common Share (a “Warrant Share”) at an exercise price of $0.30 per Warrant Share for a period
of 24 months from the date of issuance. Each CFT Unit consist s of one Common Share to be issued as a
“flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (a “ CFT
Share”) and one-half of one Warrant . Each Non-LIFE Unit consists of one Common Share and one half of
one Warrant.
The LIFE Offered Securities were offered pursuant to the listed issuer financing exemption under Part 5A of
National Instrument 45 -106 – Prospectus Exemptions (“NI 45-106”), as modified by Coordinated Blanket
Order 45 -935 -Exemptions From Certain Conditions of the Listed Issuer Financing Exemption (the “ LIFE
Exemption”), in certain other jurisdictions outside of Canada in accordance with applicable securities laws
and OSC Rule 72 -503 – Distributions Outside Canada . The Non-LIFE Units were offered pursuant t o the
prospectus exemptions under NI 45 -106 other than the LIFE Exemption. The Common Shares comprising
part of the LIFE HD Units and the CFT Shares will not be subject to a hold period under applicable Canadian
securities laws. The Common Shares, Warrants and Warrant Shares underlying the Non -LIFE Units will be
subject to a four-month and one-day hold period. The Warrants underlying the LIFE Offered Securities may
not be exercised for a period of four months from the date of issuance.
The Company will use an amount equal to the gross proceeds of the sale of the CFT Units to incur “Canadian
exploration expenses” (the “Qualifying Expenditures”) prior to December 31, 2027 and shall renounce the
Qualifying Expenditures so incurred to the purchasers of the CFT Units effective on or before December 31,
2026. Such proceeds are expected to be used to conduct a drill program , and advance metallurgical
testwork and complete an environmental base line study at the Company’s Labrador West Iron Project. The
net proceeds for the sale of the LIFE HD Units and the Non-LIFE Units shall be used for general corporate
and working capital purposes.
The Company paid eligible finders an aggregate cash commission of $ 508,250 and issued an aggregate of
1,991,500 finder warrants (the “Finder Warrants”). Each Finder Warrant entitles the holder to acquire one
Non-LIFE Unit at a price of $0.20 for a period of 24 month s from the date of issuance . The Offerings are
subject to the final acceptance of the Canadian Securities Exchange (the “CSE”). PowerOne Capital Markets
Limited, among others, acted as a finder in connection with a portion of the Offerings.
Certain director and insiders of the Company (the “Insiders”) subscribed to the Offering for an aggregate of
2,470,000 Units. This issuance of Units to the Insider constitutes a “related party transaction” as such term
is defined under Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). The Company is relying on an exemption from the formal valuation and
minority shareholder approval requirements provided under MI 61 -101 pursuant to section 5.5(a) and
section 5.7(1)(a) of MI 61-101, on the basis that the participation in the Offering by Insiders does not exceed
25% of the fair market value of the Company’s market capitalization.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities
Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This news 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 the United States or
in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About High Tide Resources Corp.
High Tide is focused on and committed to the development of mineral projects critical to infrastructure
development using industry best practices combined with a strong social license from local communities.
High Tide owns a 100% interest in the Labrador W est Iron Project which hosts a NI 43 -101 Inferred iron
resource of 654.9 Mt @ 28.84% Fe and is located adjacent to IOCC’s Carol Lake Mine in Labrador City, NL.
This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical
Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P. Geo, Matthew
Herrington, M.Sc., P. Geo, Catharine Pelletier, P. Eng. and Jeffrey Cassoff P. Eng.
The Company also owns a 100% interest in the Lac Pegma copper -nickel-cobalt deposit located 50
kilometres southeast of Fermont, Quebec.
Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property
can be found on the Company’s website at www.hightideresources.com .
Qualified Person
The technical information contained in this news release has been approved by Steve Roebuck P.Geo., CEO
and Director of High Tide, who is a Qualified Person as defined in National Instrument 43 -101 - Standards
of Disclosure for Mineral Projects.
For further information, please contact:
Steve Roebuck
CEO and Director
Mobile: (905) 741-5458
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements:
This news release includes certain "forward-looking statements" which are not comprised of historical facts.
Forward-looking statements include estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the e ffect that the Company or management expects a stated
condition or result to occur. Forward -looking statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking
statements are based on assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet management’s
expectations. Risks, uncertainties and other factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward-looking information. Forward looking information in this news release includes,
but is not limited to, the use of the proceeds from the Offerings, tax treatment of the CFT Units and timing
to incur and renounce the Qualifying Expenditures, the Company’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the estimation of mineral resources and
exploration plans, timing of the commencement of operations and estimates of market conditions. Factors
that could cause actual results to differ materially from such forward -looking information include, but are
not limited to: the inability to raise the minimum gross proceeds required to be raised under the Offering,
commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and
international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify
mineral resources, failure to convert estimated mineral resources to reserves, the p reliminary nature of
metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or
other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other
indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future,
changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in
the development of projects, capital and operating costs varying significantly from estimates and the other
risks involved in the mineral exploration and development industry, and those risks set out in the
Company’s public documents filed on SEDAR+. Although the Company believes that the assum ptions and
factors used in preparing the forward -looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of the date of this news release,
and no assurance can be given that su ch events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward -looking information,
whether as a result of new information, future events or otherwise, other than as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news
release.