St. John's, Newfoundland and Labrador--(Newsfile Corp. - August 11, 2025) - Triple Point Resources Ltd. ("Triple Point") is pleased to announce that it has closed a private placement consisting of a total of common shares (the "Shares") at a price of $0.05 per Share for aggregate gross proceeds of $4,571,641.75 (the "Offering"). This financing will support the company's next phase of development, including the completion of environmental studies, stakeholder consultations, and feasibility work necessary to register the Fischells Salt Dome Project with the Government of Newfoundland and Labrador.
The Fischells Salt Dome is the only proven salt dome on the eastern seaboard of North America, a unique natural asset with the potential to become Canada's first strategic clean energy reserve. Powered by Atlantic Canada's world-class wind resources, it can store clean electricity and deliver it when needed, strengthening national energy security and supporting Canada's rise as a true clean energy superpower. Strategically located just 10 km from the coastline in one of the world's premier wind corridors, and intersected by the Maritime Link transmission line, Fischells offers unmatched potential for long-duration underground storage to stabilize the grid, maximize renewable generation, and expand export capacity.
"With this funding, we can take the next decisive steps toward making Fischells a cornerstone of Canada's clean energy future, said Julie Lemieux, CEO of Triple Point. "We've spent time in the region engaging with as many groups and communities as possible, and there is growing excitement about what this project can bring not just for Newfoundland and Labrador, but for all of Atlantic Canada. By harnessing our world-class wind resources and storing that power in salt cavern, Canada can deliver clean electricity when and where it's needed, strengthen energy security, and open new export opportunities to global markets. No other region in the country has a proven natural asset like this. Fischells gives Atlantic Canada, and Canada as a whole, the ability to back up renewable generation with long-term, reliable storage, positioning the nation as a true clean energy superpower."
"This financing reflects strong investor confidence in both our vision and our progress. The participation from our employees and leadership team underscores the belief and alignment within Triple Point, we're proud to be building something truly meaningful for generations to come." said John Anderson Chairman of Triple Point. "We had deep and thoughtful conversations with management about the progress made over the past year and the strategic next steps ahead. This team has moved with optimism and focus. I'm impressed by the collaboration we've seen with the Government of Newfoundland and Labrador to work on laying the groundwork for this transformative project."
Triple Point is committed to building long-term partnerships across industry, government, and Indigenous communities to ensure the Fischells Salt Dome becomes a national asset that supports clean energy integration, energy security, and economic development.
In connection with the Offering, the Company issued an aggregate of 1,955,500 finder's shares to certain arm's-length finders.
All securities issued pursuant to the Offering are subject to a four-month hold period under Canadian securities laws. The securities issued pursuant to the Offering have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements.
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") the Company advises that two subscribers, considered to be "related parties" of the Company, purchased Shares under the Offering. Each subscription by the related parties of the Company is considered to be a "related party transaction" for purposes of MI 61-101. The Company is relying on the exemptions from the formal valuation requirements contained in section 5.5(b) of MI 61-101 and the minority shareholder approval requirements contained in section 5.7(1) (a) of MI 61-101, as the Company is not listed on specified markets and the fair market value of the "related party" participation in the Offering does not exceed 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
About Triple Point Resources Ltd.
Triple Point Resources owns the Fischells Salt Dome mineral rights and 226 sq. km of mineral licenses on the west coast of Newfoundland. The dome is strategically located beneath the Trans-Canada Highway, 10 km from the coast, and intersected by the Maritime Link. Triple Point is developing large-scale underground storage using hydrogen and compressed air energy storage (CAES) technologies to support renewable energy integration, stabilize the grid, and build Canada's clean energy backbone on the East Coast.
For information about Triple Point Resources Ltd., please contact:
Julie Lemieux
Chief Executive Officer
jlemieux@triplepoint.ca
709-214-5721
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262013
SOURCE: Triple Point Resources Ltd.
