Rupert Resources Closes $51.75 Million Bought Deal Equity Financing

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States

TORONTO--(BUSINESS WIRE)-- Rupert Resources Ltd. (TSX:RUP) (“Rupert Resources” or the “Company”) is pleased to announce that it has closed the previously announced “bought deal” public offering of 11,500,000 common shares in the capital of the Company (the “Shares”) issued at a price of $4.50 per Share (the “Offering Price”) for gross proceeds of $51,750,000, which included the exercise, in full, of the Underwriters’ over-allotment option (the “Offering”). The Offering was conducted by Cormark Securities Inc., as lead underwriter and sole bookrunner, and BMO Capital Markets, Scotia Capital Inc. and Canaccord Genuity Corp. (collectively, the “Underwriters”).

The Shares were offered by way of a prospectus supplement dated March 20, 2025 (the “Prospectus Supplement”) to the Company’s existing Canadian base shelf prospectus dated December 16, 2024 filed in British Columbia, Alberta, Ontario, New Brunswick and Newfoundland and Labrador. The Shares were also offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and in offshore jurisdictions on a private placement basis as agreed upon by the Company and the Underwriters, in each case in accordance with all applicable laws.

The Company plans to close its non-brokered private placement, previously announced on March 18, 2025, of up to 7,250,000 Common Shares at the Offering Price on substantially the same terms as the Offering for gross proceeds of up to $32.625 million (the “Private Placement”) on April 1, 2025. Agnico Eagle Mines Limited (“Agnico”) has indicated its intention to take up its rights to participate in the Private Placement to maintain its pro-rata ownership in the Company.

The net proceeds of the Offering and the Private Placement will be used for on-going exploration expenditures, technical and environmental studies on the Company’s properties in Finland and for general corporate purposes as set out in the Prospectus Supplement.

The Offering and the Private Placement remain subject to the final approval of the Toronto Stock Exchange.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Rupert Resources

Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high-quality, multi-million ounce gold discovery in Northern Finland.

Cautionary Note Regarding Forward Looking Statements

This press release contains statements which, other than statements of historical fact constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, including statements with respect to: the closing of the Private Placement; Agnico’s participation in the Private Placement; the use of proceeds of the Offering and Private Placement; and final approval of the Offering and Private Placement from the Toronto Stock Exchange. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual information form and the Company’s Management's Discussion and Analysis, available on the Company’s website at www.rupertresources.com and on SEDAR+ at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend and does not assume any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250327372884/en/

Graham Crew

Chief Executive Officer

gcrew@rupertresources.com

Thomas Credland

Head of Corporate Development

tcredland@rupertresources.com

Rupert Resources Ltd

82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1

Web: http://rupertresources.com/

Source: Rupert Resources Ltd.

FAQ

How much did Rupert Resources (RUPRF) raise in its recent bought deal financing?

Rupert Resources raised $51.75 million through a bought deal offering of 11,500,000 common shares at $4.50 per share.

What is the price per share for Rupert Resources' (RUPRF) March 2025 equity financing?

The shares were issued at $4.50 per share for both the public offering and private placement.

How will Rupert Resources (RUPRF) use the proceeds from its 2025 financing?

The proceeds will fund exploration expenditures, technical and environmental studies in Finland, and general corporate purposes.

What is the size of Rupert Resources' (RUPRF) additional private placement announced for April 2025?

The company plans a private placement of up to 7,250,000 shares at $4.50 per share, potentially raising $32.625 million.

Is Agnico Eagle participating in Rupert Resources' (RUPRF) 2025 private placement?

Yes, Agnico Eagle has indicated its intention to participate to maintain its pro-rata ownership in the company.