
Ring Energy Provides Operational Update - Amended to Correct Wells Drilled in First Quarter 2025
~ Announces Timing of First Quarter Earnings Conference Call ~
THE WOODLANDS, Texas, April 18, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ('Ring' or the 'Company') today provided an operational update, including first quarter 2025 oil sales volumes above the high end of the Company's guidance range and total sales volumes above the midpoint of guidance. The Company also announced the timing of Ring's quarterly results conference call.
KEY HIGHLIGHTS
Produced over 12,000 barrels of oil per day ('Bo/d'), exceeding high end of guidance;
Produced over 18,300 barrels of oil equivalent per day ('Boe/d'), exceeding the midpoint of guidance;
Oil production outperformance was driven by the success of Ring's drilling program, featuring 7 wells (4 horizontal and 3 vertical wells) coming online, all surpassing the Company's pre-drill estimates;
Completed the acquisition of the Central Basin Platform ('CBP') assets of Lime Rock Resources IV, LP ('Lime Rock') on March 31, 2025;
Highly accretive transaction provides immediate and meaningful increased cash flow from shallow declining, long life, oil weighted assets;
Realized initial operational synergies by reducing LOE over 5%;
Production during the first two weeks of Ring's operations exceeded expectations by over 200 Boe/d, averaging over 2,500 Boe/d; and
Company has over 6,300 barrels of oil per day hedged with weighted average downside protection of $64.44 per barrel for the remainder of the year, as of April 1, 2025.
Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, 'The first quarter has set a strong foundation for 2025, and we look forward to sharing our full results in early May. Despite some initial weather-related downtime, we are pleased to report that oil sales volumes surpassed our highest projections, thanks to the outstanding performance of the wells drilled this quarter. Every well not only met but exceeded our pre-drill expectations, showcasing our operational excellence. Additionally, we successfully completed our Lime Rock asset acquisition before the quarter's end, and we are actively integrating these new properties into our portfolio—yielding an impressive 200 Boe/d increase over earlier estimates during the first two weeks of operations. We are confident that these achievements will propel us toward continued success in the upcoming months.'
Mr. McKinney concluded, 'Our value-focused and proven strategy is designed to effectively navigate both high and low commodity price cycles, emphasizing the generation of free cash flow, maintaining a disciplined capital spending program, and prioritizing debt reduction. The flexibility in our contracting terms with drilling rigs and oil field service providers empowers us to quickly adapt our capital spending to stay aligned with our objectives. Our steadfast, value-focused strategy ensures we maintain the discipline and agility needed to navigate price volatility, positioning the Company for enduring success.'
First Quarter Earnings Conference Call
Ring plans to issue its first quarter 2025 earnings release after the close of trading on Wednesday, May 7, 2025. The Company has scheduled a conference call on Thursday, May 8, 2025 at 11:00 a.m. central standard time to discuss its first quarter 2025 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the 'Ring Energy First Quarter 2025 Earnings Conference Call'. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring's website at www.ringenergy.com under 'Investors' on the 'News & Events' page. An audio replay will also be available on the Company's website following the call.
ABOUT RING ENERGY, INC.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.
SAFE HARBOR STATEMENT
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects, including: expected first quarter 2025 sales volumes and capital projects activity levels; the potential impact of and the Company's efforts to manage commodity price volatility through targeted contracting, hedging and other Company-directed strategies; and, the expected benefits and related timing afforded by the recent completion for the Lime Rock acquisition – all of which are designed to further position the Company for long-term success. The forward-looking statements include the Company's ability to execute its proven strategy designed to further position the Company for long-term success. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ('SEC'), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

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Toronto Star
an hour ago
- Toronto Star
Osisko Metals Intersects 0.33% Cu Over 258 Metres at Gaspé
Includes 15.6 Metres Averaging 1.47% Cu and 8.5 g/t Ag E Zone Skarn Returns 29.7 Metres Averaging 1.92% Cu and 15.2 g/t Ag Infill Drilling Continues to Extend Deposit at Depth Below 2024 MRE MONTREAL, June 12, 2025 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the 'Company or 'Osisko Metals') (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce new drilling results from the 2025 drilling program at the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. Results for eight new holes are reported below, located at the southern end of the deposit defined in the 2024 Mineral Resource Estimate ('MRE', see attached map and November 14, 2024 news release). Highlights (see Table 1 below): Drill hole 30-1075, located in the south-eastern portion of the 2024 MRE model, intersected 258.0 metres averaging 0.33% Cu and 2.95 g/t Ag (including 15.6 metres averaging 1.47% Cu and 8.5 g/t Ag), and a second intercept at depth, below the base of the 2024 MRE model, of 96 metres averaging 0.54% Cu and 3.34 g/t Ag, extending mineralization to a vertical depth of 529 metres. Drill hole 30-1076, located along the southern limit of the 2024 MRE model, intersected 208.4 metres averaging 0.40% Cu and 2.61 g/t Ag (including 12.0 metres averaging 1.91% Cu and 9.6 g/t Ag), followed by a second intercept of 70.8 metres averaging 0.25% Cu and 2.15 g/t Ag, and a third intercept at depth, below the base of the 2024 MRE model, of 48.9 metres averaging 0.34% Cu and 2.78 g/t Ag, extending mineralization to a vertical depth of 548 metres. Drill hole 30-1068, located in the south-eastern portion of the 2024 MRE model, intersected 189.0 metres averaging 0.30% Cu and 2.62 g/t Ag. Drill hole 30-1070, located near the eastern limit of the 2024 MRE model, intersected 160.5 metres averaging 0.16% Cu and 1.92 g/t Ag, followed by a second intercept of 122.8 metres averaging 0.62% Cu and 4.86 g/t Ag (including 25.6 metres averaging 2.19% Cu and 16.9 g/t Ag at the level of the C Zone skarn), followed by a third intercept at depth, below the base of the 2024 MRE model, of 29.7 metres averaging 1.92% Cu and 15.2 g/t Ag at the level of the E Zone skarn, extending mineralization to a vertical depth of 629 metres. Drill hole 30-1075, located in the south-eastern portion of the 2024 MRE model, intersected 258.0 metres averaging 0.33% Cu and 2.95 g/t Ag (including 15.6 metres averaging 1.47% Cu and 8.5 g/t Ag), and a second intercept at depth, below the base of the 2024 MRE model, of 96 metres averaging 0.54% Cu and 3.34 g/t Ag, extending mineralization to a vertical depth of 529 metres. Drill hole 30-1076, located along the southern limit of the 2024 MRE model, intersected 208.4 metres averaging 0.40% Cu and 2.61 g/t Ag (including 12.0 metres averaging 1.91% Cu and 9.6 g/t Ag), followed by a second intercept of 70.8 metres averaging 0.25% Cu and 2.15 g/t Ag, and a third intercept at depth, below the base of the 2024 MRE model, of 48.9 metres averaging 0.34% Cu and 2.78 g/t Ag, extending mineralization to a vertical depth of 548 metres. Drill hole 30-1068, located in the south-eastern portion of the 2024 MRE model, intersected 189.0 metres averaging 0.30% Cu and 2.62 g/t Ag. Drill hole 30-1070, located near the eastern limit of the 2024 MRE model, intersected 160.5 metres averaging 0.16% Cu and 1.92 g/t Ag, followed by a second intercept of 122.8 metres averaging 0.62% Cu and 4.86 g/t Ag (including 25.6 metres averaging 2.19% Cu and 16.9 g/t Ag at the level of the C Zone skarn), followed by a third intercept at depth, below the base of the 2024 MRE model, of 29.7 metres averaging 1.92% Cu and 15.2 g/t Ag at the level of the E Zone skarn, extending mineralization to a vertical depth of 629 metres. Drill hole 30-1074, located in the south-central portion of the 2024 MRE model, intersected 118.5 metres averaging 0.26% Cu and 1.92 g/t Ag, and a second intercept of 167.2 metres averaging 0.22% Cu and 1.60 g/t Ag at depth below the base of the 2024 MRE model, extending mineralization to a vertical depth of 797 metres. Table 1: Drill hole mineralized intervals, see attached map for drill hole locations. Drill hole 30-1073 was drilled to the east of the 2024 MRE limit and did not intersect significant mineralization. Previously reported drill holes 30-1062 and 30-1066 were also collared to the southeast and to the east, respectively, of the 2024 MRE limit and these holes also failed to intersect significant mineralization, indicating that the deposit does not extend towards the east. The deposit remains open to the south and southwest. ARTICLE CONTINUES BELOW All holes were drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north; true widths are estimated at 90-92% of reported widths. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026. Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East and Copper Brook. As expected, no significant molybdenum mineralization was encountered in porcellanites in the latter areas, but high grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. The bulk of the molybdenum mineralization occurs in veinlet stockworks further north at Copper Mountain, where true porphyry copper-style mineralization occurs, forming a distinct secondary mineralized zone that is characterized by widespread, continuous copper-molybdenum stockwork mineralization radiating from the central source of hydrothermal fluids, i.e. the Copper Mountain porphyry intrusion. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system. The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization, leading to the May 2024 MRE (see May 6, 2024 press release). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category (see November 14, 2024 press release). The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the extension of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. Qualified Person Mr. Bernard-Olivier Martel, P. Geo. is the Independent Qualified Person responsible for the technical data reported in this news release and he is a Professional Geologist registered in the Province of Quebec. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Quality Assurance / Quality Control Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are not reported unless indicating significantly higher grades. Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.'s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver. About Osisko Metals Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled ' Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper '. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec. In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ' June 25, 2024 news release entitled 'Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq'. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads. For further information on this news release, visit or contact: Don Njegovan, President Email: info@ Phone: (514) 861-4441 Cautionary Statement on Forward-Looking Information This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as 'expects', or 'does not expect', 'is expected', 'interpreted', 'management's view', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'potential', 'feasibility', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ ( under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law. A photo accompanying this announcement is available at:


Cision Canada
an hour ago
- Cision Canada
Perpetua Resources Announces Upsizing of Previously Announced Bought Deal Public Offering of Common Shares
BOISE, Idaho, June 12, 2025 /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or the "Company") announced today that as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank of Canada Financial Markets and BMO Capital Markets, on behalf of themselves and a syndicate of underwriters (the "Underwriters") to increase the size of its previously announced bought deal financing. Perpetua Resources will now issue 24,622,000 common shares, no par value, of the Company (the "Common Shares") at a price of US$13.20 per Common Share (the "Offering Price") for aggregate gross proceeds of approximately US$325 million (the "Offering"). National Bank of Canada Financial Markets and BMO Capital Markets are acting as joint lead bookrunning managers for the Offering. In connection with the Offering, Paulson & Co. Inc. has entered into an agreement to purchase US$100 million of Common Shares in a private placement (the "Private Placement") at the Offering Price. Perpetua Resources has also granted the Underwriters an option (the "Option") to purchase up to an additional 3,693,300 Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering. The Underwriters have 30 days from the closing of the Offering to exercise the Option. In connection with the Offering, an underwriting agreement has been entered into by and among Perpetua Resources, National Bank of Canada Financial Markets and BMO Capital Markets as representatives of the several Underwriters (the "Underwriting Agreement"). In the event that the Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately US$374 million. The Company intends to use the proceeds of the Offering and the Private Placement as part of a comprehensive financing package for the development of the Company's Stibnite Gold Project (the "Project") in conjunction with the previously announced application for up to US$2 billion in project financing submitted to the Export-Import Bank of the United States ("EXIM") in May 2025. The Company intends to designate the proceeds of the Offering and the Private Placement toward equity requirements for the EXIM debt financing, with any additional funds intended to support exploration activities, working capital and general corporate purposes. EXIM's due diligence on the Company's application is ongoing and is conditional upon successfully completing the due diligence and underwriting process. If the due diligence process is successful, the Company anticipates closing the debt financing in 2026. The Offering is expected to close on or about June 16, 2025. Closing of the Offering will be subject to a number of customary conditions to be included in the Underwriting Agreement. The Offering to the public in the United States is being made pursuant to the Company's effective shelf registration statement on Form S-3 (File No. 333-266071) (the "U.S. Registration Statement"), including a base prospectus, previously filed with the Securities and Exchange Commission (the "SEC"). The Offering in the United States will be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. You may obtain these documents for free by visiting EDGAR on the SEC's website at Alternatively, copies of the U.S. Registration Statement, preliminary prospectus supplement and base prospectus may be obtained from National Bank of Canada Financial Markets, 130 King Street West, 4 th Floor Podium, Toronto, Ontario M5X 1J9, by email at [email protected] or by telephone at (416) 869-8414. The Offering may also be conducted in Canada and in offshore jurisdictions on a private placement basis in accordance with applicable securities laws. The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Offering and the Private Placement as an eligible interlisted issuer. The Private Placement is expected to close concurrently with the closing of the Offering and is subject to customary conditions, including the completion of the Offering, but the Offering is not contingent upon the consummation of the Private Placement. The sale of the Common Shares under the Private Placement will not be registered under the Securities Act of 1933, as amended. Since neither the fair market value of the Common Shares to be acquired by the Paulson (an insider of the Company), nor the consideration for the Common Shares paid by Paulson, exceeds 25% of the Company's market capitalization as calculated in accordance with MI 61-101 (as defined below), the Private Placement is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101. No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Perpetua Resources and the Stibnite Gold Project Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Stibnite Gold Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Perpetua Resources has been awarded a Technology Investment Agreement of US$59.2 million in Defense Production Act Title III funding to advance construction readiness and permitting of the Stibnite Gold Project. Antimony trisulfide from Stibnite is the only known domestic reserves of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS OR INFORMATION Investors should be aware that the EXIM Letter of Interest ("LOI") is non-binding and conditional, and does not represent a financing commitment. A funding commitment, if any, is conditional upon successfully completing the due diligence and underwriting process, which may not be completed on the expected timeline, or at all. If the Company's application is approved, there can be no assurance that the EXIM financing will be for the full amount indicated in the LOI or the increased amount requested in the application, or that the approved EXIM financing will be sufficient for the Company to commence construction of the Project. Further, release of funding under any such commitment would be subject to the satisfaction of certain conditions and covenants by the Company. Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding the conduct of the Offering and Private Placement; the granting of the Underwriters' over-allotment option; the anticipated use of proceeds from the Offering and Private Placement; the occurrence of the expected benefits from the anticipated use of proceeds from the Offering, Private Placement, EXIM financing and royalty financing disclosure regarding the review process, anticipated timing and potential outcome of the Company's EXIM financing application; the amount of potential debt financing available to the Company; the eligibility of the Project for funding under the MMIA and CTEP initiatives; our ability to fully fund the construction of the Project and related financial assurance obligations; our ability to successfully implement and fund the Project; and the occurrence of the expected benefits from the Project, including providing a domestic source of antimony, national defense benefits, creation of jobs and environmental benefits. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the EXIM application will be reviewed and approved within the expected timeframe at the amount equal to or higher than the amount indicated in the LOI; that the Company will be able to satisfy the conditions to obtain a funding commitment from EXIM and to receive committed funds when needed; general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that we will be able to discharge our liabilities as they become due and continue as a going concern. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among other things, risks related to delays in the EXIM application review process; any approved amount of EXIM financing may not be sufficient to commence construction of the Project; risks related to unforeseen delays in the review and permitting process, including as a result of legal challenges to the ROD or other permits; risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all, as well as those factors discussed in Perpetua Resources' public filings with the SEC and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business and liquidity, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, which are available at and with the Canadian securities regulators, which are available at Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. SOURCE Perpetua Resources Corp.


Cision Canada
2 hours ago
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New Found Gold Closes Second Tranche of C$63 Million Bought Deal Financing Including Full Exercise of Underwriters' Over-Allotment Option Français
VANCOUVER, BC, June 12, 2025 /CNW/ - New Found Gold Corp. (TSXV: NFG) (NYSE-A: NFGC) (" New Found Gold" or the " Company") is pleased to announce that it has closed the second and final tranche of its previously announced "bought deal" public offering of (i) 24,610,000 charity flow-through common shares of the Company (the " Charity Flow-Through Common Shares") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) at a price of C$2.29 per Charity Flow-Through Common Share (the " Charity Flow-Through Common Share Offering Price"), including the exercise, in full, of the Underwriters' (as defined below) over-allotment option (the " Over-Allotment Option") of 3,210,000 Charity Flow-Through Common Shares, and (ii) 4,370,000 common shares (the " Common Shares") at a price of C$1.63 per Common Share, for aggregate gross proceeds of C$63,480,000 (the " Offering"). The second tranche of the Offering consists of 9,345,000 Charity Flow-Through Common Shares, including the exercise in full of the Over-Allotment Option, for gross proceeds of C$21,400,050. The second tranche of the Offering was completed pursuant to an underwriting agreement dated May 29, 2025 (the " Underwriting Agreement"), entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance LP and including Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. (collectively, the " Underwriters"). Mr. Eric Sprott participated in the second tranche of the Offering to maintain his approximate 19% shareholdings. The Offering remains subject to the Company receiving all necessary regulatory approvals, including final approval of the TSX Venture Exchange (the " TSXV") to list the Charity Flow-Through Common Shares and the Common Shares. In connection with the closing of the second tranche of the Offering, the Company paid to the Underwriters a cash fee in the aggregate amount of C$526,413.75, representing (i) 5.25% of the gross proceeds of the second tranche of the Offering, other than the gross proceeds raised from certain sales pursuant to a president's list (the " President's List Sales"); and (ii) 1.0% of the gross proceeds raised from President's List Sales. BMO Capital Markets, SCP Resource Finance LP, Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. received C$202,669, C$176,349, C$52,641, C$28,953, C$15,792, C$15,792, C$13,160, C$10,528 and C$10,528, respectively. The gross proceeds from the offering of the Charity Flow-Through Common Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the " Qualifying Expenditures") related to the Company's 100% owned Queensway Gold Project (" Queensway" or the " Project"), on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers for the Charity Flow-Through Common Shares effective on or before December 31, 2025. The Charity Flow-Through Common Shares were offered by way of a prospectus supplement in each of the Provinces and Territories of Canada (other than the Province of Quebec and Nunavut) and were also offered by way of a U.S. prospectus supplement forming part of the Company's registration statement on Form F-10 in the United States. Copies of the prospectus supplement and documents incorporated by reference therein are available electronically on the Canadian Securities Administrators' System for Electronic Data Analysis and Retrieval+ (" SEDAR+") ( and the SEC's Electronic Data Gathering and Retrieval System (" EDGAR") ( under New Found Gold's issuer profile. Certain directors and officers of the Company participated, directly or indirectly, in the Offering and, due to his shareholdings, Mr. Sprott is considered a "related party" of New Found Gold. Accordingly, their participation in the Offering constitutes "a related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval (" MI 61-101"). The Company has relied on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such related party participation. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About New Found Gold New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. The Company has completed an initial mineral resource estimate at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded preliminary economic assessment is underway, with completion scheduled for late Q2/25. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110 km strike extent along two prospective fault zones. New Found Gold has a new management team in place, a solid shareholder base, which includes a 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway. Please see the Company's SEDAR+ profile at and the Company's EDGAR profile at Keith Boyle Chief Executive Officer New Found Gold Corp. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and U.S. securities legislation (including the Private Securities Litigation Reform Act of 1995), including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity Flow-Through Common Shares, the receipt of all necessary regulatory approvals in connection with the Offering and, statements related to Queensway and the Company's planned and future exploration at Queensway. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "suggests", "potential", "goal", "objective", "prospective", "preliminary," "possibly", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV or the NYSE American LLC, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks related to: the tax treatment of the Charity Flow-Through Common Shares, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form, Management's Discussion and Analysis and other reports and documents filed by the Company with applicable securities regulatory authorities from time to time, publicly available through the SEDAR+ at or through the EDGAR at for a more complete discussion of such risk factors and their potential effects. SOURCE New Found Gold Corp.