Metal Energy Announces Additional Strategic Investor: Teck Acquires 9.9% Equity Interest to Fund Exploration on the NIV Property in BC

Executive Summary

• Teck Resources Limited and Centerra Gold Inc. each invest in Metal Energy Corp., acquiring a 9.9% equity stake each, bringing total strategic investors to two major mining companies.
• The financing consists of 8,880,000 flow‑through shares at C$0.73 per share and 6,200,000 common shares at C$0.45 per share, for an aggregate gross proceeds of approximately C$9.5 million (subject to final closing).
• Funds from the investors will be earmarked for exploration on Metal Energy’s NIV property in British Columbia, with the offering expected to close around December 16, 2025.

Key Details

• Investor Allocation:
• Teck Resources – subscription for 4,442,000 FT shares @ C$0.73 and 3,100,000 common shares @ C$0.45.
• Centerra Gold – same allocation as Teck.
• Equity Ownership Post‑Closing: Each investor will hold approximately 9.9 % of Metal Energy’s issued and outstanding common shares.
• Financing Structure:
• Total FT Shares to be issued: 8,880,000 (C$0.73 each).
• Total Common Shares to be issued: 6,200,000 (C$0.45 each).
• Approximate gross proceeds: C$9.5 million (subject to final pricing and closing conditions).
• Investor Rights Agreements: Metal Energy will enter into separate investor rights agreements with Teck and Centerra, providing top‑up and information rights; Teck’s agreement includes a requirement that its funds be used for exploration on the NIV property.
• Closing Timeline: Expected on or about December 16, 2025, subject to customary conditions, regulatory approvals, and TSX Venture Exchange acceptance.
• Hold Period: All securities issued are subject to a four‑month plus one‑day hold period under applicable securities laws.
• Use of Proceeds: Dedicated to funding exploration activities on the NIV copper‑gold‑molybdenum project in the Toodoggone District, British Columbia.
• Project Portfolio Highlights:
• NIV Project – 100 % controlled, drill‑ready Cu‑Au‑Mo target.
• Highland Valley Project – 100 % owned Cu‑Mo‑Ag‑Au‑Re asset.
• Manibridge Project – 85 % owned Ni‑Cu‑Co‑PGE project in Manitoba.

Notable Quotes

• “We are pleased to welcome Teck as our second strategic investor… Their participation reflects both the quality of the targets and the exceptional work of Charlie Greig and Alex Walcott…” – Stephen Stewart, Chairman, Metal Energy.