Halifax, Nova Scotia--(Newsfile Corp. - September 19, 2025) - E-Tech Resources Inc. (TSXV: REE) (FSE: K2I) ("E-Tech" or the "Company") is pleased to announce the closing of its previously announced private placement of $950,000 (the "Financing") through the issuance of 19,000,000 common shares (each, a "Share") at $0.05 per Share. The net proceeds of the Financing will be used to advance exploration at the Company's Eureka Project in Namibia, for working capital, and general corporate purposes.
Numus Capital Corp., a registered Exempt Market Dealer, acted as the agent for the Financing. E-Tech paid the agent a cash fee of $65,800 and 1,316,000 broker warrants, equal to 7% of proceeds raised from investors introduced by the agent, except on subscriptions received from directors, officers, and employees of E-Tech and their affiliates and associates. Each broker warrant entitles the holder to acquire one Share at an exercise price of $0.05 and is exercisable for a period of 24 months from closing.
Wade Dawe, an Insider of the Company and a related party to the Company, subscribed for 4,000,000 Shares. The percentage of outstanding securities owned or controlled by Wade Dawe increased from 15.4% to 16.2%. An officer of the Company subscribed for 200,000 Shares.
The engagement of Numus Capital Corp. and the Financing may constitute Related Party Transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI-61-101"). E-Tech is relying upon an exemption for shareholder approval required under section 5.7(1)(a) of MI 61-101 on the basis that any related party elements of such transactions would not exceed 25% of market capitalization of E-Tech.
All securities issued pursuant to the Financing are subject to a hold period lasting four-months and one day from the closing.
Election of Directors
At the Company's Annual and Special Meeting of shareholders held on September 18, 2025, all items were approved by shareholders, including the election of Christopher Drysdale, Frances Wall and Carl Sheppard as directors. The Board welcomes Mr. Sheppard, whose strategic insight will support the Company in pursuing its objective of delivering long-term shareholder value. The Company also wishes to thank three board members who did not stand for re-election this year, being Jim Megann, John Philipott and Ken Marshall, for their service and contributions.
Stock Option Grant
The Company granted 3,850,000 stock options under the Company's Stock Option Plan to officers, directors and consultants of E-Tech. Directors and officers were awarded 1,600,000 of the stock options granted. The options are exercisable at $0.10 per share, will vest at the rate of 50% on the 12-month anniversary date and 25% on the 18-month and 24-month anniversary dates from the date of grant. The stock options will expire five years from the date of grant.
A portion of the stock options were granted to recently engaged consultants who bring additional technical expertise. Their involvement reflects the Company's focus on strengthening its capabilities as it prepares for the next phase of exploration at the Eureka Project.
All other terms and conditions of the options are in accordance with the terms of the Stock Option Plan which is in compliance with Policy 4.4 of the TSX Venture Exchange and was approved by shareholders at the Company's Annual and Special Meeting held on September 18, 2025. A copy of the Stock Option Plan was included in the Company's Management Information Circular dated August 14, 2025.
About E-Tech Resources Inc.
E-Tech is a rare earth exploration and development company focused on developing its Eureka Rare Earths Project in Namibia. The Eureka project is located approximately 250 km north-west of Namibia's capital city Windhoek and 140 km east of Namibia's main industrial port Walvis Bay. The project is situated next to the national B1 highway in the Erongo Region of Namibia.
The Eureka deposit lies in the Southern Central Zone of the Neoproterozoic Damara Belt within Exclusive Prospecting License ("EPL") number EPL 6762, which covers farms Eureka 99 and Sukses 90. E-Tech has also entered a definitive agreement to acquire an 85% interest in the permit EPL 8748 which lies adjacent to and surrounds the Company's EPL 6762.
E-Tech follows a dual-commodity approach, advancing both rare earths and nuclear fuels, two essential inputs for the global energy transition.
Namibia is recognized as one of Africa's most politically stable jurisdictions, with a well-established national infrastructure and a clear and transparent mining law.
Cautionary Statements
This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. E-Tech does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to E-Tech. Additional information identifying risks and uncertainties is contained in the filings made by E-Tech with Canadian securities regulators, which filings are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact Chris Drysdale, CEO of E-Tech Resources Inc., at +264 891 220 2439 or chris@etech-resources.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267093
SOURCE: E-Tech Resources Inc.
