Subject: Beaumont Exploration Corp. - News Release
Word Document
File: '\\swfile\EmailIn\20260817 103848 Attachment Beaumont - Closing News Release (FT_NFT Offering).docx'
LEGAL*72734452.2
LEGAL*72734452.2
BEAUMONT EXPLORATION CORP.
200 - 551 Howe Street Vancouver, B.C. V6C 2C2
News Release
BEAUMONT EXPLORATION CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
August 17, 2026 - Beaumont Exploration Corp. (CSE-BEAU) (the "Company" or "Beaumont") is pleased to announce that it has completed its previously announced non-brokered private placement consisting of (i) 430,000 units of the Company (the "Units") at a price of $0.12 per Unit; and (ii) 170,000 flow-through shares (each, a "FT Share", and together with the Units, the "Offered Securities") at a price of $0.12 per FT Share (the "Private Placement"), for aggregate gross proceeds of $72,000. Each Unit consists of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share of the Company at an exercise price of $0.15 per Common Share for a period of twenty-four (24) months from the date of the closing of the Private Placement.
Each FT Share qualifies as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Tax Act").
The Company, pursuant to the provisions in the Tax Act, shall use an amount equal to the gross proceeds of the sale of the FT Shares to incur eligible resource exploration expenses which qualify as "Canadian exploration expenses" as such term is defined in the Tax Act (the "Qualifying Expenditures") prior to December 31, 2027. The Company intends to renounce the Qualifying Expenditures so incurred to the purchasers of the FT Shares effective on or before December 31, 2026.
The Company intends to use the net proceeds from the sale of the Units for working capital and exploration purposes.
The Offered Securities will be subject to a four-month and one day from the closing of the Private Placement.
FOR FURTHER INFORMATION PLEASE CONTACT: Michael Dake, Chief Executive Officer, at Suite 200 - 551 Howe Street, Vancouver, B.C. V6C 2C2 Email: mdake@shaw.ca
This news release contains certain forward-looking information, including information regarding the statements regarding the use of proceeds from the Private Placement, the ability of the Company to incur in full or at all "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" and the renunciation thereof to the purchasers of the FT Shares and timing thereof, and the tax treatment of the FT Shares. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential", or the negative or other variations of these words, or similar words or phrases, have been used to identify forward-looking information. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof.
Forward-looking information involves significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking information. Such factors include, among other things: uncertainties with respect to the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth or to be fully able to implement its business strategies and other risks and uncertainties. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information.
Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with the forward-looking information. The forward- looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise the information to reflect new events or circumstances, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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