08:24:40 EDT Wed 08 Jul 2026
Enter Symbol
or Name
USA
CA



Tower Resources Ltd
Symbol TWR
Shares Issued 173,281,101
Close 2026-07-07 C$ 0.16
Market Cap C$ 27,724,976
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Tower Resources closes $1.08-million private placement

2026-07-08 05:32 ET - News Release

Mr. Joe Dhami reports

TOWER ANNOUNCES CLOSING OF FLOW-THROUGH TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Tower Resources Ltd. has closed the flow-through tranche of its previously announced non-brokered private placement with the issuance of 6,000,001 flow-through common shares at a price of 18 cents per FT share for aggregate gross proceeds of $1,080,000.18.

The gross proceeds from the sale of the FT shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures within the meaning of the Income Tax Act (Canada). The company intends to use the flow-through proceeds to advance exploration of its Rabbit North gold project in British Columbia. Planned activities include diamond drilling, geological modelling, interpretation of alteration and mineralization patterns, integration of downhole and surface geophysical data sets, target generation activities, and lidar and/or induced polarization surveys designed to improve targeting efficiency and support future drilling campaigns.

The company paid finders' fees in connection with the offering to eligible arm's-length parties in accordance with the policies of the TSX Venture Exchange. Consisting of a cash commission of $64,800 equal to 6 per cent of the gross proceeds raised from the sale of the FT shares to subscribers introduced by the finder and 360,000 finders' warrants equal to 6 per cent of the FT shares sold. Each finder's warrant will be exercisable into one common share of the company at a price of 16 cents until July 3, 2027.

All securities issued pursuant to the flow-through tranche of the offering will be subject to a statutory hold period expiring Nov. 4, 2026, in accordance with applicable securities laws.

The next tranche closing of the offering is anticipated to occur on or around July 17, 2026, subject to approval by the TSX Venture Exchange.

About Tower Resources Ltd.

Tower Resources is a mineral exploration company focused on the advancement of its 100-per-cent-owned Rabbit North gold project located in the Kamloops mining division of British Columbia and the evaluation of additional exploration opportunities in Canada.

We seek Safe Harbor.

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