Graycliff Exploration Provides Update on Private Placement

Graycliff Exploration Limited has successfully closed a $440,000 private placement offering through the issuance of 4.4 million common shares. The financing structure consisted of $113,000 in new equity financing and $327,000 in debt settlements, providing the company with improved working capital and debt reduction. The transaction includes significant insider participation, with insiders subscribing for 2.22 million shares, demonstrating management confidence in the company's prospects.

The completion of this financing represents a strategic milestone for Graycliff as it enters 2026, particularly given the company's acknowledged financial challenges. Chairman James Macintosh emphasized that the capital raise dramatically improves the company's financial position and will support ongoing exploration activities and corporate objectives. The funds will be allocated toward general corporate purposes and working capital requirements.

Graycliff's primary asset, the Shakespeare Project, encompasses 1,468 hectares of prospective ground located approximately 80 kilometers west of Sudbury on the Canadian Shield. The property includes the historic Shakespeare Gold Mine and has been the focus of extensive drilling programs, with over 12,500 meters completed to date and visible gold identified in multiple holes. This financing provides the company with the necessary capital to advance exploration activities on this promising gold asset.

The transaction also resulted in Arndt Roehlig acquiring a significant 17.04% stake in the company through his participation in the offering. All securities issued are subject to a standard four-month hold period, and the transaction was structured to comply with regulatory requirements while addressing the company's immediate financial needs. This successful capital raise positions Graycliff to pursue its exploration objectives while maintaining operational flexibility in the current market environment.