Geologica Announces Flow-Through Financing for Topley Project

Geologica Resource Corp. (CSE:GRCM) has announced its intention to raise up to $400,000 through a flow-through financing to fund exploration work on its Topley Project in central British Columbia. The company plans to issue 4,000,000 shares, consisting of 2,000,000 flow-through shares and 2,000,000 non-flow-through shares, both priced at $0.10 per share. The proceeds from the flow-through shares will be used for eligible Canadian exploration expenses, qualifying as "flow-through mining expenditures" under the Income Tax Act (Canada).

The Topley Project is a strategic acquisition for Geologica, with the potential to host a large-scale copper-gold porphyry deposit. The project is located in a region with excellent infrastructure and a history of mining activity. Geologica has an option agreement and a purchase agreement for 100% of the mineral claims that make up the Topley Project.

The flow-through financing is a crucial step in Geologica's plans to advance the Topley Project. The funds raised will be used to conduct exploration work, including drilling and geophysical surveys, to better understand the mineralization at the project. This work will help Geologica make informed decisions about the project's future and attract potential partners or investors.



In addition to exploration work, the funds raised will also be used for general administration purposes, such as salaries, office expenses, and other overhead costs associated with running a public company. While these expenses may not be as exciting as exploration work, they are essential for Geologica to maintain its operations and continue advancing its projects.

Geologica's long-term goals for the Topley Project include defining a maiden resource estimate, conducting a preliminary economic assessment, and advancing the project towards a production decision. The flow-through financing is a key step in achieving these goals, providing the company with the necessary funds to conduct exploration work and maintain its operations.

The timing of the financing, with a planned commencement of trading on the CSE, fits well into Geologica's overall project development timeline. The company aims to raise capital to fund exploration work and administration expenses, allowing it to advance the Topley Project while maintaining a strong financial position.

The issuance of flow-through and non-flow-through shares balances Geologica's funding needs and shareholder interests in the Topley Project. Flow-through shares allow investors to participate in the potential tax benefits associated with exploration expenses, while non-flow-through shares provide a more straightforward investment option. This balance ensures that Geologica can attract a broader range of investors, fostering a more robust and engaged shareholder base.

In conclusion, Geologica's flow-through financing is an important step in advancing the Topley Project. The funds raised will be used to conduct exploration work and maintain the company's operations, supporting its long-term goals for the project. Investors should monitor Geologica's progress at the Topley Project and consider the potential upside if the company is successful in defining a significant resource and advancing the project towards production.