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Entrée Resources Closes Oversubscribed $36.2 Million Financing

ERLFF
  • Entrée Resources Ltd. closed an oversubscribed non-brokered private placement on November 4, 2026, increasing the financing size by an additional C$4.3 million due to strong demand.
  • The company issued 12,485,300 units at C$2.90 per unit, generating gross proceeds of C$36,207,370.
  • Each unit consists of one common share & one common share purchase warrant, with warrants allowing the purchase of one additional share at C$3.95 for a three-year period.
  • Securities issued are subject to a hold period expiring on March 5, 2027.
  • The company paid a fee of C$78,427.60 in cash, representing 2% of aggregate gross subscription proceeds from purchasers with accounts at registered investment dealers.
  • Net proceeds will fund general corporate purposes, including preparing an updated Technical Report for the Entrée/Oyu Tolgoi joint venture, increasing presence in Mongolia, & potentially reducing deposits or metal credits owed to International Royalty Corporation.
  • Company insiders acquired 425,800 units under the same terms, qualifying for an exemption from formal valuation & shareholder approval requirements under Multilateral Instrument 61-101.
  • Royal Gold, Inc. & Rio Tinto remain major shareholders, beneficially holding approximately 23% & 15% of the company's shares, respectively.
  • The securities offered were not registered under the U.S. Securities Act of 1933 & may not be offered or sold within the United States or to U.S. Persons.