Churchill Resources closes $3 million private placement

TORONTO - Churchill Resources Inc. (TSXV:CRI) announced Wednesday it has closed its previously announced non-brokered private placement, raising $3 million through the sale of 37.5 million common shares at $0.08 per share. According to InvestingPro data, this financing comes as the company’s stock has seen a significant decline, with a -54.89% return over the past year.

The mining exploration company plans to use the proceeds to advance its strategic assets in Newfoundland & Labrador, including the Black Raven Antimony-Gold Project, which hosts the past-producing Frost Cove Antimony Mine, and for general corporate purposes.

In connection with the private placement, Churchill paid eligible finders a cash fee of $210,000, representing 7% of the gross proceeds raised from subscribers introduced by these finders. The company also issued 2,625,000 non-transferrable finders warrants, each entitling the holder to acquire one share at $0.08 for a period of 24 months.

The securities issued are subject to a statutory hold period of four months and one day, and the private placement remains subject to final approval from the TSX Venture Exchange.

Additionally, Churchill’s board of directors approved the grant of 8.2 million stock options to certain directors, officers and consultants. These options are exercisable at $0.14 and have a five-year term.

Churchill Resources focuses on strategic, critical minerals in Canada, with properties in Newfoundland and Labrador. The company’s flagship Black Raven property features a polymetallic metal assemblage with evidence of historical production.

This information is based on a company press release statement issued Wednesday.

In other recent news, Carter’s Inc. reported its second-quarter earnings for 2025, which revealed a mixed financial performance. The company posted earnings per share of $0.17, significantly missing the analysts’ forecast of $0.34. However, revenue for the quarter exceeded expectations, reaching $585 million compared to the estimated $563.37 million. Following these results, UBS lowered its price target for Carter’s from $32 to $26, citing the disappointing earnings while maintaining a Neutral rating. In response to RWWM Inc.’s acquisition of a 16.86% stake in the company, Carter’s adopted a limited duration stockholder rights plan, commonly known as a poison pill, to prevent any entity from gaining control without offering a premium to all stockholders. The company also announced a quarterly dividend of $0.25 per share, payable on September 12, 2025, to shareholders of record as of August 26, 2025. These developments reflect Carter’s ongoing strategic adjustments and financial activities.

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