Grande Portage Completes C$5 Million Equity Financing

Grande Portage Resources Ltd. has successfully closed a non-brokered private placement, raising C$5 million from the sale of 20 million units at C$0.25 per unit. Each unit includes one common share and a half-warrant, allowing the purchase of an additional share at C$0.35 within two years.

The sole subscriber was Mr. Eric Sprott, through 2176423 Ontario Ltd. His involvement now results in holdings of 35 million common shares and 10 million warrants, representing a near 19.7% share ownership non-diluted and 24% on a partially diluted basis. The funds will be directed towards the exploration of the New Amalga Gold deposit and working capital.

The securities are subjected to a four-month hold period, ending in April 2026. Shareholder approval is required for Mr. Sprott to become a new Control Person if warrant conversions bring his share above 19.99%.