Sign Up

Miata Metals Closes Upsized Private Placement of $5.5 million

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

VANCOUVER, British Columbia, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Miata Metals Corp. (CSE:MMET) (FSE: 8NQ) (OTCQB:MMETF) ("Miata" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") by issuing 23,913,044 units at a price of $0.23 per unit (each a "Unit") for total gross proceeds of $5,500,000 (the "Offering").

Each Unit consists of one common share in the capital of the Company and one-half of one transferrable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share at an exercise price of $0.40 until August 21, 2027. The Warrants will be restricted from exercise until October 21, 2025, being the 61st day following the closing of the Offering.

The Units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions ("NI 45-106"). Pursuant to NI 45-106, the securities forming part of the Units issued to Canadian residents under the Offering are not to be subject to resale restrictions. The Company is relying on the exemptions in Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Order") and is qualified to distribute securities in reliance on the exemptions included in the Order.

The Company intends to use the proceeds from the Offering for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, and for general working capital and corporate purposes.

In connection with the Offering, the Company paid aggregate cash finder's fees of $165,004, and issued an aggregate of 771,410 finder's warrants (the "Finder's Warrants") to eligible arm's length finders. The Finder's warrants are exercisable into common shares at ...