J2 Metals Inc. Provides Private Placement Update

Executive Summary

• J2 Metals Inc. announced an extension of the closing date for the remaining tranche(s) of its up‑to $1,500,000 non‑brokered flow‑through private placement (FT Subscription Receipt Offering) to on or before April 15, 2026.
• The first tranche closed on February 23, 2026, raising $478,000 from the issuance of 1,365,714 FT Subscription Receipts at $0.35 each; proceeds are held in escrow pending satisfaction of escrow release conditions tied to a plan of arrangement with Twenty Mile Metals Inc.
• No warrants are attached to the receipts; each receipt will convert into one common share on a flow‑through basis once escrow conditions are met, or be cancelled and funds returned if not satisfied.

Key Details

• Offering Size: Up to $1,500,000 total (non‑brokered flow‑through private placement).
• First Tranche:
• Units Issued: 1,365,714 FT Subscription Receipts
• Price per Receipt: $0.35
• Gross Proceeds: $478,000
• Conversion Right: One common share per receipt upon escrow release; flow‑through tax treatment under the Canadian Income Tax Act.
• Escrow Conditions: Must be satisfied in connection with the previously announced plan of arrangement between J2 Metals and Twenty Mile Metals Inc.; if not met, proceeds (plus accrued interest) will be returned and receipts cancelled.
• Warrant Terms: No warrants issued in this offering.
• Closing Extension: Remaining tranche(s) now expected to close on or before April 15, 2026, subject to regulatory approvals including TSX‑V acceptance.
• CEO Comment: “We anticipate the escrow conditions will be met within the next few weeks and the subscription receipts converted to shares.” – Thomas Lamb, CEO.

Notable Quotes

“We anticipate the escrow conditions will be met within the next few weeks and the subscription receipts converted to shares.” – Thomas Lamb, CEO & Director, J2 Metals Inc.