GSP Resource Corp. announced the closing of a non-brokered private placement of up to 1,741,682 units at a price of CAD 0.12 per unit for the aggregate gross proceeds of CAD 209,001.84 on December 27, 2023. Each unit consists of one flow-through common share and one-half transferable common share purchase warrant.

Each whole warrant entitles the holder to purchase one common share of the company at a price of CAD 0.20 for a period of two years following the date of issuance. All securities issued under the private placement are subject to a four-month hold period, in accordance with applicable securities laws. The company paid aggregate cash finders' fees of CAD 8,760.11 and issued 73,001 non-transferable finders' warrants to certain brokers and finders on a portion of the private placement.

The finders' warrants are each exercisable to purchase one common share of the company at a price of CAD 0.12 for a period of two years from the closing date of the private placement. One insider of the company subscribed for a total of 150,000 units for total gross proceeds of CAD 18,000 under the private placement. The transaction also included participation from two pro groups for 133,333 units.

The transaction included participation from 11 placees. The transaction has been approved by the TSX Venture Exchange.