Blue Lagoon Resources Closes Oversubscribed Private Placement

Blue Lagoon Resources Inc. has successfully completed its non-brokered private placement offering announced earlier this month. Originally targeting a lower subscription, the offering was oversubscribed, leading to the issuance of 3,549,998 units, each priced at $0.11, culminating in gross proceeds of $390,500.

Each unit comprises one common share and one transferrable common share purchase warrant. These warrants permit the purchase of an additional common share for $0.14 until October 30, 2026. The capital raised will support working capital and general corporate purposes.

Securities from this offering are under a hold period until March 1, 2025, as per Canadian laws. Note, the securities remain unregistered under the U.S. Securities Act, and thus are restricted from U.S. markets without necessary registration or exemption.