Record Resources Inc. (TSXV: REC), a Calgary-based oil and gas exploration and production company, has announced an upsize of its non-brokered private placement to a maximum of $500,000 in aggregate gross proceeds, citing strong investor interest. The offering consists of units priced at $0.06 each, with each unit comprising one common share and one warrant exercisable at $0.09 for 30 months. The closing is targeted for the week of November 16, 2026, subject to TSX Venture Exchange approval. Investors may be watching the transaction as a signal of near-term capital momentum for the company's oil and gas activities.

Key Points

  • Record Resources Inc. (TSXV: REC) is an E&P company with interests in Gabon and natural hydrogen assets in Ontario
  • The non-brokered private placement has been upsized to up to $500,000 gross proceeds at $0.06 per unit
  • Each unit includes one common share and one warrant exercisable at $0.09 for 30 months; closing targeted for the week of November 16, 2026
  • Investors should watch for confirmation of TSXV approval and official closing of the offering

Record Resources Raises Placement Ceiling After Investor Demand Exceeds Initial Target

Record Resources originally announced the private placement on November 4, 2026, and moved quickly to increase its size the following day. The company stated that strong investor interest prompted the upsize to $500,000 in aggregate gross proceeds. Units are priced at $0.06 each, with each unit carrying one common share and one warrant. The warrants allow holders to acquire one additional common share at $0.09 per share for a period of 30 months from the date of issuance. The offering is being made on a non-brokered basis to accredited investors across Canadian provinces and select other jurisdictions.

Warrant Structure and Finder's Fee Arrangements for the REC Offering

Record Resources has outlined a finder's fee arrangement tied to the placement. The company will pay a cash fee of 7.0% of aggregate gross proceeds raised through introduced subscribers, and will also issue finder's warrants equal to up to 7.0% of the number of units sold to those subscribers. Each finder's warrant entitles the holder to purchase one common share at $0.06 per share for 30 months following issuance. All securities issued under the offering will be subject to a statutory hold period of four months and one day from the date of issuance, consistent with applicable Canadian securities regulations.

Use of Proceeds and Closing Conditions for the Private Placement

Record Resources states the net proceeds will be directed toward working capital and general corporate purposes. The release does not specify a more detailed allocation of funds between its Gabon oil and gas operations and its Ontario natural hydrogen exploration assets. Closing of the offering remains subject to customary conditions, including receipt of all necessary approvals from the TSX Venture Exchange. The company notes the offering may also be made in other jurisdictions, including the United States, under applicable private placement exemptions, though the securities have not been registered under U.S. securities laws. The immediate share price impact was not clear from available public information.