GlobeNewswire·Oct 20, 2026, 9:30 AM ET

Entrée Resources Announces Non-Brokered Private Placement

Entrée Resources Ltd. announced a non-brokered private placement of up to 11,000,000 units at C$2.90 per unit for gross proceeds of up to C$31,900,000.
Each unit consists of one common share and one common share purchase warrant exercisable at C$3.95 for three years.
A significant portion of the financing comes from a new strategic investor, an affiliate of the Tether group of companies.
The strategic investor will receive pro rata participation rights in subsequent equity issuances and the right to nominate one board member if ownership reaches 15%.
Net proceeds are expected to fund an updated Technical Report, increase the company's presence in Mongolia, and potentially refund deposits or reduce metal credits owed to International Royalty Corporation.
Closing is anticipated in the fourth quarter of 2026, subject to regulatory approvals including acceptance by the Toronto Stock Exchange.
Securities issued will be subject to a four-month plus one-day hold period from the date of issuance.
The placement is not registered under U.S. Securities laws and cannot be offered or sold to U.S. persons.
The company aims to strengthen its balance sheet to resolve state ownership issues regarding the Entrée/Oyu Tolgoi joint venture mining licenses.