Roxmore Resources Inc. announced two private placements that together raise a total of C$62.64 million in gross proceeds. The first placement, disclosed on February 17, 2026, sold 12.5 million common shares at C$2.40 each, generating C$30 million. The second, announced the following day, upsized the offering to 13.6 million shares at the same price, bringing the second placement to C$32.64 million. Both transactions are expected to close on or about February 27, 2026, pending regulatory approvals.
The capital raised will be directed toward advancing the company’s flagship Converse Gold Project in Nevada. Management has identified the funds as essential for accelerating the Preliminary Economic Assessment and pre‑feasibility study, as well as for additional drilling and technical work that will bring the project closer to production. This milestone is a key step in de‑risking the asset and unlocking its long‑term value.
Roxmore’s recent corporate actions provide context for the scale of this raise. The company uplisted to the Toronto Stock Exchange on February 5, 2026, and changed its name from Axcap Ventures Inc. in November 2025. In October 2025 it completed a private placement of C$9.2 million at C$1.70 per share. The current offering price of C$2.40 reflects a higher valuation and stronger investor demand, while the company remains unprofitable—a typical profile for a development‑stage exploration firm.
Market reaction to the announcements was immediate. On February 17, the Canadian Investment Regulatory Organization halted trading of Roxmore’s shares to manage dissemination of the news. No subsequent price data is available, but the halt indicates regulatory attention and investor interest in the capital raise.
The two placements underscore Roxmore’s strategy of securing the necessary cash to advance the Converse Gold Project while maintaining a strong balance sheet. The infusion of C$62.64 million provides the liquidity needed for near‑term development activities and signals continued confidence from investors in the company’s exploration pipeline.
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