The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+
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 – (BUSINESS WIRE) – March 18, 2025 – Rupert Resources Ltd. (TSX:RUP) (“Rupert” or the “Company”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. as lead underwriter on behalf of a syndicate of underwriters (collectively the “Underwriters”), pursuant to which the Underwriters have agreed to purchase on a bought deal basis 10,000,000 common shares of the Company (the “Shares”) at a price of C$4.50 per Share (the Offering Price”), representing total gross proceeds of approximately C$45.0 million (the “Offering”). The Company has also granted the Underwriters an option (the “Over-Allotment Option”), exercisable at the Offering Price for a period of 30 days from and including the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any, on the same terms as the Offering. Closing is expected on or about March 27, 2025 (the “Closing Date”), and is subject to regulatory approval including that of the Toronto Stock Exchange.
The Company is also pleased to announce that it will offer in a concurrent private placement up to 7,250,000 Common Shares at the Offering Price on substantially the same terms as the Offering for gross proceeds of up to C$32.625 million (the “Private Placement”).
The net proceeds of the Offering and the Private Placement will be used for on-going exploration expenditures, technical and environmental studies on the Company’s properties in Finland and for general corporate purposes as will be set out in the Prospectus Supplement (as defined below).
The Shares will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s existing Canadian base shelf prospectus dated December 16, 2024 (the “Base Shelf Prospectus”). The Prospectus Supplement will be filed in British Columbia, Alberta, Ontario, New Brunswick and Newfoundland and Labrador. The Shares will also be offered in the United States on a private placement basis pursuant to one or more exemptions from the requirements of the United States Securities Act of 1933, as amended, and may also be offered in such other jurisdictions as may be agreed upon by the Company and the Underwriters, in each case in accordance with all applicable laws and provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.
Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendments thereto are provided in Canada in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus supplement and any amendment to such documents. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible through SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus and any amendment thereto may be obtained, without charge, from Cormark Securities Inc. by phone at (416) 362-7485 or email at ecm@cormark.com by providing the contact with an email address or address, as applicable.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
About Rupert
Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange under the symbol “RUP”. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high quality gold discovery in Northern Finland.
For further information, please contact:
Thomas Credland
Head of Corporate Development
tcredland@rupertresources.com
