Mako Mining Announces C$35 Million Bought Deal Private Placement of Common Shares and Concurrent C$15 Million Non-Brokered Private Placement of Common Shares

Executive Summary

• Mako Mining Corp. entered into a bought‑deal private placement for up to C$40.25 million (gross proceeds C$35 M plus optional 15% over‑allotment) and a concurrent non‑brokered private placement for up to C$15 million, targeting total gross proceeds of C$50 million.
• Proceeds are earmarked for ramping up operations at the Moss Mine, construction of development assets, and general working capital.
• The offering is expected to close around October 28, 2025, subject to regulatory approvals including conditional TSXV approval.

Key Details

• Brokered Offering (Bought Deal)
• Underwriters: Stifel Canada and Cantor Fitzgerald Canada (lead syndicate).
• Shares offered: 4,375,000 common shares at C$8.00 per share.
• Gross proceeds: C$35,000,000; optional over‑allotment up to 15% adds an additional C$5,250,000, raising total possible brokered gross proceeds to C$40,250,000.

• Underwriters’ cash commission: 6% of gross brokered proceeds.

• Non‑Brokered Private Placement

• Investor: Wexford Capital LP (related‑party transaction).
• Shares subscribed: 1,875,000 common shares on the same C$8.00 per share terms.

• Gross proceeds: up to C$15,000,000.

• Total Offering

• Combined expected gross proceeds: C$50,000,000.

• Use of proceeds: ramp‑up of Moss Mine operations, construction of development assets, and general working capital.

• Closing & Conditions

• Anticipated closing date: on or about October 28, 2025.
• Subject to receipt of all required regulatory approvals, including conditional TSXV approval.
• Brokered shares sold under the Listed Issuer Financing Exemption – no hold period for Canadian subscribers.

• Non‑brokered shares subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.

• Regulatory & Legal

• Offering relies on exemptions under NI 45‑106 (Listed Issuer Financing Exemption) and U.S. securities law exemptions where applicable.
• Related‑party transaction exemption invoked under TSXV Policy 5.9 and MI 61‑101, as the fair market value does not exceed 25% of Mako’s market capitalization.

Notable Quotes

• “The net proceeds from this Offering will enable us to accelerate production at Moss Mine, advance our development projects, and strengthen our balance sheet,” – Akiba Leisman, Chief Executive Officer.