VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE:RUU, OTC:RRUUF, FRA: CWA0)) ("Refined" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement financing (the "Private Placement") for aggregate gross proceeds of $2,000,000.
Pursuant to the Private Placement, the Company issued 10,000,000 units of the Company ("Units") at a price of $0.20 per Unit. Each Unit consists of one common share in the capital of the Company (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant entitling the holder thereof to purchase an additional Share at an exercise price of $0.25 until November 7, 2027, provided that the Warrants are subject to a hold period expiring on January 6, 2026 during which time they may not be exercised (the "Hold Period").
The net proceeds of the Private Placement are intended to be used for exploration and evaluation expenditures at the Company's Dufferin Project (and to make the necessary payments to maintain the Company's interest in the Dufferin Project in good standing) and for general working capital purposes.
The Units issued pursuant to the Private Placement were offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106, Prospectus Exemptions, as modified by the Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "LIFE Exemption"). Because the Private Placement was completed pursuant to the LIFE Exemption, the securities issued to Canadian resident subscribers in the Private Placement are not subject to certain resale restrictions under applicable Canadian securities laws (aside from the Hold Period).
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