Ashley Gold Corp. Secures First Tranche of Financing and Secures Drill Contractor for Maiden Howie Program
Ashley Gold Corp. (CSE: ASHL) announced that it has closed the first tranche of its planned financing, raising gross proceeds of US $265,237.56 (CAD ≈ $0.06 per share at closing). The transaction was structured with a combination of flow‑through (FT) and non‑flow‑through (NFT) units, each accompanied by a two‑year half warrant.
Unit Pricing and Warrant Structure
| Unit Type | Quantity | Unit Price | Warrant Price | Gross Proceeds |
|---|---|---|---|---|
| FT units | 1,578,922 | $0.095 | $0.15 | $149,795.09 |
| NFT units | 1,536,833 | $0.075 | $0.12 | $115,262.47 |
| Management‑funded contribution | – | – | – | $78,750 |
The total gross proceeds amount to US $265,237.56, with a net of $186,487.56 after management’s contribution. The financing was opened on November 13, 2025 with a target of $530,000, of which half has now been secured.
Allocation of Funds
Flow‑through funds are earmarked for eligible exploration expenses under Canadian tax regulations. Ashley Gold plans to deploy these proceeds primarily toward drilling activities at its permitted projects. The company will renounce flow‑through status by December 31, 2025, after which the remaining funds will be used for general exploration costs and corporate purposes.
Strategic Sign‑off on the Howie Program
In conjunction with the financing, Ashley Gold confirmed the appointment of a drill contractor for its Maiden Howie Program slated to commence in December 2025. The contractor agreement, signed on November 27, 2025, aligns with the company’s exploration timeline and ensures that the newly acquired capital can be deployed efficiently to advance the program.
Market Context
- Close Price (Nov 26, 2025): CAD $0.06
- 52‑Week High: CAD $0.11 (Oct 13, 2025)
- 52‑Week Low: CAD $0.03 (Aug 20, 2025)
- Market Capitalisation: CAD $4,180,000
- Price‑to‑Earnings Ratio: –1.92
The modest valuation reflects the company’s early‑stage exploration focus and the inherent volatility of junior mining assets. Nonetheless, the infusion of capital positions Ashley Gold to accelerate drilling activities and potentially unlock higher‑grade resources at its Howie property.
Forward‑Looking Outlook
The successful completion of this tranche demonstrates investor confidence in Ashley Gold’s exploration strategy. With the Howie Program now backed by a dedicated drill contractor and a clear capital allocation plan, the company is poised to deliver on its exploration milestones over the next year. The flow‑through status, while temporary, offers tax advantages that enhance the effective return on capital for investors. As exploration proceeds, any discoveries or resource updates could materially impact the company’s valuation and market perception.
Ashley Gold’s management remains focused on leveraging the new funding to generate compelling exploration results, thereby setting the stage for subsequent financing rounds and potential partnerships as the project progresses.
