Mr. Charles Desjardins reports
INSPIRATION ENERGY ANNOUNCES CLOSING OF FULLY SUBSCRIBED PRIVATE PLACEMENT
Inspiration Energy Corp., further to its news release dated April 25, 2025, has closed the fully subscribed non-brokered private placement financing for aggregate gross proceeds of $975,000 from the sale of up to 9.75 million units of the company at 10 cents per unit. Inspiration has obtained Canadian Securities Exchange price protection for the securities issued under the offering.
Each unit will comprise one common share one transferable common share purchase warrant of the company. Each warrant will entitle the subscriber to purchase one common share of the company for a 36-month period after the closing date of the offering at an exercise price of 16 cents per common share.
Charles Desjardins, president and chief executive officer of the company, commented: "We are very encouraged by the response for the private placement. We plan on moving ahead with the drill program at the Rottenstone North gold project, having recently applied for drill permits. This will also support Inspiration's strategic marketing initiatives. We look forward to a very exciting 2025 drill season."
Proceeds raised will be used to advance the company's Rottenstone North gold project in Saskatchewan and for general working capital purposes.
Finders' fees of $48,000 in cash and 444,000 finders' warrants were paid to arm's-length parties.
There were 10 pro group participation for 1.39 million units
Shares issued pursuant to the offering will be subject to a four-month-and-one-day hold period according to applicable securities laws of Canada.
About Inspiration Energy Corp.
Inspiration Energy is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the company's properties.
We seek Safe Harbor.
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