On April 8, 2026, Blue Jay Gold Corp. (“Blue Jay”) announced the closing of its brokered private placement of 18,350,500 subscription receipts (“Subscription Receipts”) at a price of $0.80 per Subscription Receipts for aggregate gross proceeds of approximately $14.7 million (the “Offering”).
The Offering was conducted by a syndicate of agents led by Beacon Securities Limited, and including ATB Cormark Capital Markets and Red Cloud Securities Inc.
Upon the satisfaction of certain escrow release conditions – including the conditional approval for the listing of Blue Jay’s common shares on the TSX Venture Exchange – each Subscription Receipt will be automatically exercised into one unit (a “Unit”) of the Company. Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share (a “Warrant Share”), at a price per Warrant Share of $1.20 for a period of 24 months from the date of issuance, subject to certain acceleration provisions.
Blue Jay intends to use the net proceeds of the offering to fund exploration programs at its Steller Gold and Pichette-Clist properties, as well as for general working capital and costs associated with its go-public listing.
Blue Jay is a Canadian gold exploration company focused on growing and discovering resources within established gold producing regions in Canada. The Company’s flagship asset is the 100%-owned Steller Gold Project in southern Yukon, an infrastructure-supported, past-producing mine with significant exploration upside and clear near-term catalysts. Blue Jay has also built a portfolio of projects in Ontario. With strategically located assets and a leadership team experienced in geology and capital markets, Blue Jay will advance disciplined, modern exploration programs focused on target definition, resource growth, and new discoveries in known gold-mineralized regions.
Further details regarding Blue Jay, and the Offering can be found on Blue Jay’s website. Blue Jay is currently an unlisted reporting issuer, and has applied to list its common shares on the TSX Venture Exchange.
