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Forge Resources Announces Resignation of Non-Executive Director and Flow-Through Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company) announces the resignation of director and a non-brokered flow-through private placement (the "Private Placement") of flow-through units ("Units").

Private Placement

Long

6,30€

Basispreis

0,80

Ask

× 8,60

Hebel

Zum Produkt

Short

7,84€

Basispreis

0,87

Ask

× 8,40

Hebel

Zum Produkt

Präsentiert von

Den Basisprospekt sowie die Endgültigen Bedingungen und die Basisinformationsblätter erhalten Sie bei Klick auf das Disclaimer Dokument. Beachten Sie auch die weiteren Hinweise zu dieser Werbung.

The Private Placement will be comprised of up to 1,162,790 Units at a price of $0.86 per Unit for aggregate gross proceeds of up to approximately $1,000,000, with each Unit consisting of one flow-through common share (each a "Share") and one-half of one transferable non-flow-through share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will enable the holder to acquire an additional non-flow-through common share of the Company ("Warrant Share") at a price of $1.30 per Warrant Share for a period of two years from the date of issuance (the "Warrant Expiry Date"). The Warrants are subject to an acceleration clause, in the event that the trading price of the Shares on the Canadian Securities Exchange (the "CSE") reaches $1.80 or more for a period of fifteen consecutive trading days, the Company may, at its option, accelerate the Warrant Expiry Date by delivering notice to the holders of such Warrants thereof by issuing a press release (the "Warrant Acceleration Press Release"), and, in such case the Warrant Expiry Date shall be deemed to be 5:00 p.m. (Vancouver Time) on the 30^th day following the date of the issuance of the Warrant Acceleration Press Release.

The gross proceeds from the Units will be utilized for incurring Canadian exploration expenses and flow-through mining expenditures at the Alotta Project, Yukon.

Finders' fees may be payable in connection with the Private Placement, subject to and in accordance with the policies of the CSE.

Resignation of Director

The Company announces the resignation of Greg Bronson from its Board of Directors. Following a recent move abroad and his decision to focus on easing into retirement, Mr. Bronson has stepped down from his role. Management would like to thank Mr. Bronson for his valuable contributions to the Company and wishes him well in his future endeavors. Subsequently, Mr. Bronson will not be standing for re-election in the upcoming annual general meeting of the Company scheduled for June 26, 2025.

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