VANCOUVER, British Columbia, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE:RUU, OTC:RRUUF, FRA: CWA0)) ("Refined" or the "Company") is pleased to announce that it has closed the previously announced non-brokered "charity flow-through" private placement (the "CFT Private Placement") of units in the capital of the Company ("Units"). Pursuant to the CFT Private Placement, the Company issued 1,428,572 Units at a price of C$1.05 per Unit for gross proceeds of C$1,500,000.60.
Each Unit consists of one "flow-through" common share in the capital of the Company (a "FT Share") and one common share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase one common share in the capital of the Company ("Common Share") at a price of $1.05 until February 13, 2028, provided that the Warrants are subject to a hold period until April 14, 2026, during which time they may not be exercised.
The FT Shares and Warrants comprising the Units will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act") and as "eligible flow-through shares" as defined in The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (the "SK Regulations"). Upon exercise of the Warrants, the underlying Common Shares will not be issued as "flow-through shares" within the meaning of the Tax Act.
The gross proceeds from the sale of the Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as such terms are defined in the Tax Act, and to incur "eligible flow-through mining expenditures" pursuant to the SK Regulations (collectively, the "Qualifying Expenditures"), at the Company's Dufferin Project, including to fund the expenditures of the Company's phase one exploration program at the Dufferin Project, which is expected to commence in the first quarter of 2026. All Qualifying Expenditures will be renounced in favour of the subscribers of the Units effective on or before December 31, 2026.
The CFT Private Placement was completed in reliance on the listed issuer financing exemption from the prospectus requirements under Part 5A.2 of NI 45-106 National Instrument 45-106, Prospectus Exemptions and the Coordinated ...
