Inspiration Energy Announces Closing of Fully Subscribed Private Placement
Vancouver, May 6, 2025 - Inspiration Energy Corp. (CSE: ISP) (WKN: A40GPX) (OTC Pink: ISPNF) ("Inspiration" or the "Company") is pleased to announce that further to its press release dated April 25, 2025, it has closed the fully subscribed non-brokered private placement financing (the "Offering") for aggregate gross proceeds of $975,000 from the sale of up to 9,750,000 units of the Company at $0.10 per unit (each, a "Unit"). Inspiration has obtained CSE price protection for the securities issued under the Offering.
Each Unit will comprise one common share (each, a "Unit Share") and one transferable common share purchase warrant (each, a "Warrant") of the Company. Each Warrant will entitle the subscriber to purchase one common share of the Company (each, a "Warrant Share") for a 36-month period after the closing date of the Offering at an exercise price of $0.16 per common share.
Charles Desjardins, President and CEO of the Company commented, "We are very encouraged by the response for the private placement. We plan on moving ahead with the drill program at the Rottenstone North Gold Project having recently applied for drill permits. This will also support Inspiration's strategic marketing initiatives. We look forward to a very exciting 2025 drill season."
Proceeds raised will be used to advance the Company's Rottenstone North Gold Project in Saskatchewan and for general working capital purposes.
Finders' fees of $48,000 in cash and 444,000 finders warrants was paid to arm's length parties.
There were Ten (10) Pro Group participation for 1,390,000 units
Shares issued pursuant to the Offering will be subject to a four-month and one day hold period according to applicable securities laws of Canada.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company's properties. For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
CEO, President and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250983
