Mr. Manjeet Dhillon reports
WILTON RESOURCES INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING
Wilton Resources Inc. has closed its previously announced non-brokered private placement of units of the corporation for total aggregate gross proceeds of $565,000. The offering was previously announced on Aug. 18, 2026, and Aug. 25, 2026, for minimum aggregate gross proceeds of $250,000 up to a maximum of $625,000. The principal use of the proceeds of the offering will be for general corporate purposes and as a reserve to pursue the acquisition of an international oil and gas property.
The corporation issued a total of 2.26 million units under the offering at a price of 25 cents per unit. Each unit is composed of one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of 24 months from the date of issuance at an exercise price of 30 cents per common share.
Insiders of the corporation (as such term is defined under the policies of the TSX Venture Exchange) participated in the offering. The participation of insiders in the offering will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions.
In connection with the offering the corporation paid finder's fees to Haywood Securities Inc., consisting of a cash payment equal to 7.0 per cent of the aggregate proceeds raised from the sale of units to subscribers introduced to the corporation by the finder, being an aggregate of $4,200 and 7.0 per cent of the aggregate units issued to subscribers introduced to the corporation by the finders in non-transferable finder's warrants, being an aggregate of 16,800 finder's warrants. Each finder warrant is exercisable and will entitle the holder thereof to acquire one common share for a period of 24 months from the date of issuance at an exercise price of 30 cents.
The common shares, warrants and finder's warrant issued in connection with the offering and the common shares underlying the warrants and finder's warrants will be subject to a statutory hold period of four months plus one day from the date of completion of the offering, being Jan. 2, 2027, in accordance with applicable securities legislation.
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