Scottie Resources Announces Closing of Brokered Private Placement and Initial Tranche of Non-Brokered Private Placement

Scottie Resources raises C$21.4 million for advancing its high-grade gold projects.

What the company is saying

Scottie Resources Corp. (TSXV:SCOT, OTCQB:SCTSF, FSE:SR80) is announcing the closing of its brokered and initial non-brokered private placements, issuing 7,359,870 shares—including 194,212 flow-through shares—at C$2.90 and C$3.10 per share, respectively, for total gross proceeds of C$21,382,465.40. The company details all transaction terms, including C$442,457.99 in agent cash fees, 152,572 compensation warrants, C$330,306.64 in finder's fees, and 113,899 finder's warrants, all exercisable at C$2.90 for 24 months. Related parties received 1,379,310 non-brokered shares and 24,565 flow-through shares, with the company confirming compliance with MI 61-101 exemptions. The narrative emphasizes use of proceeds for working capital, technical studies, and permitting at the Scottie Gold Mine Project, and for qualifying exploration expenditures under flow-through rules. The company highlights its 100% ownership of the Scottie Gold Mine, Georgia Project, and other properties in British Columbia's Golden Triangle, controlling 58,500 hectares. The announcement frames the Scottie Gold Mine as a high-grade, near-surface deposit with a current inferred resource of 703,000 ounces at 6.1 g/t, and references a recent PEA showing after-tax NPV(5%) ranging from $215.8 million to $832 million depending on scenario and gold price. The tone is confident, focusing on the scale of the raise, the technical progress, and the economic potential of its assets.

What the data suggests

The company has successfully raised C$21,382,465.40 through the issuance of 7,359,870 shares, including 194,212 flow-through shares, at C$2.90 and C$3.10 per share. Transaction costs include C$442,457.99 in agent fees and C$330,306.64 in finder's fees, with a combined 266,471 warrants issued to agents and finders, all exercisable at C$2.90 for 24 months. Related party participation totals 1,379,310 non-brokered shares and 24,565 flow-through shares, but remains below the 25% market capitalization threshold, avoiding the need for minority approval or formal valuation. All shares are subject to a hold period expiring February 10, 2027. The company expects a second non-brokered tranche of approximately C$2,600,000 to close around October 14, 2026, pending regulatory approval. The Scottie Gold Mine Project's current inferred resource is 703,000 ounces at 6.1 g/t in 3.6 million tonnes. The PEA projects after-tax NPV(5%) of $215.8-$668.3 million for a DSO scenario at US$2,600-$4,200/oz gold, and $380-$832 million for a toll-milling scenario, with initial capex of $129 million, average annual production of ~65,400 oz over seven years, and payback periods of 1.7 years (DSO) or 0.9 years (toll-milling at US$2,600/oz). The data shows a well-structured financing and a project with robust economic projections, but all project economics remain scenario-based and subject to execution and permitting.

Analysis

The announcement is primarily a factual disclosure of a completed capital raise, with detailed terms, fees, and share issuance figures. The tone is positive, but the language is proportionate to the realised milestone of closing the brokered and initial non-brokered tranches. Forward-looking statements are limited to the intended use of proceeds (technical studies, permitting, exploration) and the expectation of a second tranche, all of which are standard for an exploration-stage company. The PEA metrics (NPV, capex, payback) are clearly presented as scenario-based projections, not as realised outcomes, and are appropriately caveated. The capital intensity flag is true due to the $129 million initial capex in the PEA, but this is contextualised as a future requirement, not a current spend. There is no narrative inflation or exaggerated claims about imminent production or profitability. The gap between narrative and evidence is minimal, with all realised claims supported by transaction data and technical disclosures.

Risk flags

• ●Regulatory risk remains, as both the brokered and non-brokered offerings are subject to final TSX Venture Exchange acceptance and the second tranche is pending regulatory approval. Any delay or denial could impact the company's funding timeline.
• ●Project execution risk is high: while the PEA shows strong economics, the Scottie Gold Mine Project is still at the technical study and permitting stage, with no construction or production decision yet made. Advancing to production will require successful permitting, further technical work, and securing the $129 million in initial capital.
• ●Commodity price risk is material: the project's NPV is highly sensitive to gold prices, with after-tax NPV(5%) ranging from $215.8 million at US$2,600/oz to $832 million at US$4,200/oz. A decline in gold prices could significantly reduce project value.
• ●Dilution risk is present: the issuance of 7,359,870 new shares, plus warrants to agents and finders, increases the share count and could dilute existing shareholders if warrants are exercised.
• ●Related party transaction risk exists, as 1,379,310 non-brokered shares and 24,565 flow-through shares were issued to related parties. While the company claims exemption from minority approval, such transactions can raise governance concerns.

Bottom line

Scottie Resources has secured C$21.4 million in fresh capital, positioning it to advance technical studies and permitting at its flagship Scottie Gold Mine Project in British Columbia. The resource base is substantial, with 703,000 ounces at 6.1 g/t (Inferred), and the PEA outlines strong project economics with after-tax NPV(5%) up to $832 million in a toll-milling scenario, but these are scenario-based and not yet realized. The next key milestone is closing the second non-brokered tranche for C$2.6 million, expected within days, and obtaining final TSX Venture Exchange approval. Investors should focus on the company's ability to convert this funding into tangible permitting, technical, and development progress, and monitor for dilution and regulatory outcomes. The most important takeaway is that Scottie now has the capital to move its high-grade gold project forward, but all project economics remain contingent on successful execution and external approvals.

Announcement summary

(TSXV:SCOT) (OTCQB:SCTSF) (FSE:SR80) Scottie Resources Corp. has closed its previously announced brokered private placement of common shares at a price of C$2.90 per share, as well as an initial tranche of its non-brokered private placement, which included common shares at C$2.90 and flow-through shares at C$3.10 per share. In total, 7,359,870 shares were issued, including 194,212 flow-through shares, raising aggregate gross proceeds of C$21,382,465.40. Under the agency agreement dated October 9, 2026, with Velocity Capital Partners (sole bookrunner), Agentis Capital Markets (AFN Limited Partnership) (co-lead agent), and Beacon Securities Limited, Scottie paid a cash fee of C$442,457.99 and issued 152,572 compensation warrants to the agents. Each compensation warrant is exercisable for one common share at C$2.90 for 24 months, expiring October 9, 2028. For the non-brokered offering, Scottie paid cash finder's fees of C$330,306.64 and issued 113,899 finder's warrants, each exercisable for one common share at C$2.90 for 24 months, expiring October 9, 2028. The company issued 1,379,310 non-brokered shares and 24,565 flow-through shares to related parties, constituting a related party transaction under MI 61-101, but is exempt from formal valuation and minority approval as the transaction does not exceed 25% of market capitalization. The company did not file a material change report more than 21 days before closing due to the expedited timeline. All offered shares are subject to a statutory hold period expiring February 10, 2027. Net proceeds from brokered and non-brokered shares will be used for working capital and general corporate purposes, including technical studies and permitting at the Scottie Gold Mine Project. Gross proceeds from flow-through shares will be used for eligible Canadian exploration expenses at the Scottie Gold Mine Project in British Columbia, with all qualifying expenditures to be renounced to subscribers effective on or before December 31, 2026. Scottie expects to complete a second and final tranche of the non-brokered offering for approximately C$2,600,000 on or about October 14, 2026, subject to regulatory approvals, including TSX Venture Exchange approval. The brokered and non-brokered offerings remain subject to final acceptance from the TSX Venture Exchange. Scottie Resources holds a 100% interest in the Scottie Gold Mine Property, the Georgia Project, and the Cambria, Sulu, and Tide North properties, controlling approximately 58,500 hectares in British Columbia's Golden Triangle. The current resource estimate for the Scottie Gold Mine Project is 703,000 gold ounces at an average grade of 6.1 g/t (Inferred) in 3.6 million tonnes. A recently completed PEA (Bird et al., October 28, 2025) outlines a DSO scenario with after-tax NPV(5%) of $215.8-$668.3 million at gold prices of US$2,600-$4,200/oz, and a toll-milling scenario with after-tax NPV(5%) of $380-$832 million. The PEA estimates initial capital costs of $129 million, average annual production of ~65,400 oz gold over seven years, and a payback period of 1.7 years for the DSO case, reduced to 0.9 years under the toll-milling scenario at US$2,600/oz.

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