Mar 05, 2026 (MarketLine via COMTEX) --
McLaren Resources closed a non-brokered private placement of 11,650,000 common share units at $0.05 per unit, raising $582,500.
McLaren Resources Inc. (CSE: MCL) (FSE: 3ML) ("McLaren" / the "Company") announces closing of a non-brokered private placement financing consisting of 11,650,000 Common Share Units (the "Unit") for gross proceeds of $582,500. The Common Share Units are issued at a price of $0.05 per unit, with each Unit consisting of one common share in the capital of McLaren and one common share purchase warrant exercisable at a price of $0.10 per common share for a period of 24 months from the date of issuance.
The Company is currently arranging additional funds to raise up to $750,000 total.
In connection with the financing, McLaren paid $2,200 in finders fees to Stephen Avenue Securities Inc., 104,000 Common Share Units to Haywood Securities Inc. and to Accilent Capital Management Inc. ("Accilent"), a finder's fee of 400,000 Common Share Units of the Company. After giving effect to the securities issued as set out and described in this news release, Accilent, a principal shareholder of the Company as a finder and also as a subscriber of Flow-Through Units through its affiliate Pavilion Flow-Through L.P., has increased its direct and indirect holding of the voting securities of McLaren from 28.99% to 30.72% of shares outstanding, or 28.48% to 31.01% on a fully diluted basis.
Gross proceeds from the financing will be used by McLaren for general working capital purposes including exploration work on the Company's properties which are located in the Timmins Gold Region of Northeastern Ontario, Canada.
The Company has granted options to buy 2,200,000 common shares of McLaren to officers and consultants. The options have an exercise price of $0.10 per share and have a term of two years.
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COMTEX_478688689/2227/2026-05-07T05:30:24
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