The Canadian junior exploration company Forge Resources Corp. (CSE: FRG; OTCQB: FRGGF; FSE: 5YZ) has successfully completed the second tranche of its previously announced brokered private placement financing. Combined with the first tranche, the total gross proceeds of the offering amount to CAD 6.0 million. This provides the company with a clearly defined financing framework for the continuation of its exploration activities – particularly on the Alotta copper-gold porphyry project in Canada’s Yukon.
Second Tranche Raises CAD 2.66 Million – Warrants Expire in 2029
As part of the second closing, a total of 5,313,000 flow-through units (FT Units) were issued at CAD 0.50 each. This generated gross proceeds of CAD 2,656,500. Ventum Financial Corp. acted as sole bookrunner and agent for the transaction. Each FT Unit consists of one flow-through common share and one warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of CAD 0.70. The warrants have a term of three years and expire on May 7, 2029. The securities issued as part of the FT Units are subject to the standard statutory hold period of four months.
The gross proceeds from the private placement are earmarked: they will be used for expenditures that qualify as “Canadian Exploration Expenses” pursuant to Subsection 66.1(6) of the Canadian Income Tax Act and as “Flow-Through Mining Expenditures” within the meaning of Subsection 127(9). These costs must be incurred by December 31, 2027 at the latest, with renunciation to subscribers effective no later than December 31, 2026. This provides Canadian investors with tax benefits under the Mineral Exploration Tax Credit while participating in an active exploration budget.
In connection with the offering, Forge Resources paid a cash commission of 7.0% of gross proceeds to Ventum Financial Corp. and to independent finders. In addition, compensation warrants equal to 7.0% of the FT Units issued were granted. Each of these compensation warrants entitles the holder to acquire one unit – consisting of one common share and one warrant – at a price of CAD 0.50. These warrants also have a term of three years and expire on May 7, 2029.
With the completion of the second tranche, the financing phase is formally concluded. The total proceeds of CAD 6.0 million provide Forge with the resources to systematically advance ongoing technical studies, geophysical evaluations, and drill planning in preparation on the Yukon project Alotta. The company recently presented Re-Os dating results that assign the deposit to an Upper Cretaceous porphyry system – temporally consistent with the nearby Casino deposit and other known occurrences in the Dawson Range Gold Belt.
Visibility Initiative: SnowBridge Assumes Investor Awareness
Concurrent with the closing, Forge Resources is expanding its capital markets communication. The company has engaged SnowBridge Limited for investor awareness and digital marketing services. The agreement was concluded in accordance with Canadian Securities Exchange (CSE) guidelines and has been disclosed accordingly.
SnowBridge will support Forge with a range of measures to increase visibility. These include digital advertising, content development, and coordination with third-party providers such as publishers and content creators. The objective is to raise awareness of the company and its activities among the broader investment community.
The contract has an initial term of three months, commencing May 11, 2026. It then renews on a monthly basis unless either party terminates with 30 days’ written notice. The initial campaign budget amounts to CAD 400,000 in cash. Notably, SnowBridge receives no equity-based compensation, no success fees, and no performance components – a structure that minimizes potential conflicts of interest. During the term, SnowBridge and its principals are also prohibited from trading in the company’s securities.
All promotional activities are conducted under the control and supervision of Forge Resources and in accordance with applicable securities regulations and CSE guidelines. The company has filed the required Form 10 – Notice of Proposed Significant Transaction with the CSE and published this press release in accordance with CSE Policy 5 and CSE Policy 7.
With the completion of the CAD 6 million financing and the concurrent launch of the communication campaign, Forge Resources has assembled a package of measures aimed at two objectives: operationally, funds are available for the advancement of projects – primarily Alotta in the Yukon and in parallel the Colombian coal project La Estrella – while on the capital markets side, the visibility of the Forge story among investors is to be significantly enhanced. For investors, this creates a clearly defined corporate profile: fully funded exploration on a copper-gold porphyry project in one of Canada’s most prospective metal provinces, complemented by an already permitted coal project with production potential in Colombia.
