Badlands Resources Increases Private Placement Size

Badlands Resources Inc., a Vancouver-based company, has announced an update on its ongoing private placement. The company is increasing the size of its previously announced non-brokered private placement, which was initially set at up to 7,407,408 units. Now, the placement will issue up to 11,111,111 units, with each unit consisting of one common share and one non-transferable share purchase warrant. The issue price per unit remains at $0.27, resulting in total gross proceeds of up to $3,000,000, an increase from the initial $2,000,000.

Each warrant will be exercisable to acquire one additional share at a price of $0.45 for a period of two years from the date of issue. However, if the closing price of the shares on the TSX Venture Exchange exceeds $0.65 for five consecutive trading days, the company reserves the right to accelerate the expiry date of the warrants to 4:30 p.m. (Vancouver time) on the date that is 30 calendar days after providing notice to the warrant holders.

All securities issued under the placement will be subject to a hold period expiring four months and one day from the date of issue. Finders' fees may be payable on all or a portion of the placement in accordance with the policies of the TSX Venture Exchange.

Badlands intends to use the net proceeds of the placement to extinguish debt, acquire new properties, particularly the Goliath property located in the District of Kenora, Northwestern Ontario, and for general working capital. The company anticipates closing the placement in one or more tranches, subject to receipt of all necessary regulatory approvals.

The press release also updates the status of the company's ongoing efforts to sell its Bella property and acquire the Goliath property. Both transactions remain subject to receipt of all requisite approvals, including the approval of the TSX Venture Exchange and, in the case of the Bella sale, shareholder approval. As of the date of the release, all such approvals remain pending, and there is no guarantee that either transaction will be completed as proposed or at all.

For further information, the company recommends reviewing its previous news releases dated June 2, 2025, September 24, 2025, October 21, 2025, and May 26, 2026. The company cautions that statements in this press release that are not historical facts are forward-looking information and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those implied by the forward-looking information.