Vancouver, British Columbia--(Newsfile Corp. - January 30, 2026) - SASQUATCH RESOURCES CORP. (CSE: SASQ) ("Sasquatch" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Financing") (see Sasquatch's news releases dated January 19 and 26, 2026), raising gross proceeds of $600,000 through the issuance of 6,000,000 units (each, a "Unit") at a price of $0.10 per Unit. Each Unit consists of one common share of the Company (each, a "Share") and one-half of one Share purchase warrant (each whole warrant, a "Warrant", exercisable for one Share at an exercise price of $0.15 until January 30, 2028).
The Company intends to use the proceeds of the Financing for exploration and development of the Company's mineral properties and for general working capital. In connection with the Financing, the Company paid aggregate finder's fees of $3,000.
The Company is also pleased to announce the appointment of Andrew Holloway, P. Eng., Metallurgist and Engineer, to the Company's board of directors. Mr. Holloway is a mining industry professional with over 35 years of diverse industry experience. A metallurgical process engineer by training, his background includes the management of consulting businesses and plant operations, process consulting, plant design, capital & operating cost estimation, cashflow modelling, project management, procurement and commissioning - on an international scale and with a focus on base and precious metals.
Peter Smith, Sasquatch's CEO, welcomed Mr. Holloway to the board of directors, saying, "We are very excited to have Andrew join the board. His wealth of experience and connections in the mining industry, including in particular with respect to metallurgy and ore processing, will be invaluable for Sasquatch as we continue through our permitting stages at Mount Sicker, and as we continue to advance and evaluate other projects in our pipeline. Put plainly, Andrew can help us optimize the product we are creating from mining waste, as well as help find end buyers for it. We are certainly fortunate to have him on the team."
The Company also advises that it has issued an aggregate of 2,000,000 stock options to directors, officers and consultants of the Company. Each option vests immediately and is exercisable for one common share of the Company at a price of $0.11 for ten years.
Directors and officers of the Company participated in the Financing and received stock options, and each such transaction is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The related party transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transactions does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. In considering and unanimously approving the transactions, there were no materially contrary views, abstentions (except for any abstentions required by corporate law) or material disagreements by any director of the Company. The Company did not file a material change report at least 21 days before closing the transactions, which is reasonable given the MI 61-101 exemptions noted above.
About the Company
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia, the Blue Grouse Property, located about 30km from the Mount Sicker Property on the south side of Lake Cowichan, the Santana Property (the area known as the former Santana mine) on Quadra Island, British Columbia, and the Slesse Property near Chilliwack, British Columbia.
For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at psmith@sasquatchresources.com or by telephone at 778.999.7030.
On Behalf of the Board of Directors
Peter Smith
Chief Executive Officer
778.999.7030
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of its mineral properties. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282254
Source: Sasquatch Resources Corp.
