North Peak Resources Announces $4.38 Million Initial Closing

North Peak Resources Ltd. has announced the initial closing of its non-brokered private placement raising C$4.38 million. The company issued 4,380,000 equity units at C$1.00 per unit. Each unit consists of one common share and a warrant to purchase an additional half share. These warrants can be exercised within 12 months at a price of C$1.50 per share.

The warrants include an acceleration clause. If shares trade at or above C$2.00 for 20 consecutive days, North Peak can expedite the warrant's expiry date by notifying holders via press release.

Proceeds will fund drilling and development at the company's Prospect Mountain site in Nevada as well as general expenses. The private placement's securities are subject to a four-month hold period under securities laws. North Peak paid cash finder's fees to multiple firms, including Haywood Securities, Canaccord Genuity, and others, alongside warrants.