Prismo Metals Announces Closing of Private Placement

Executive Summary

• Prismo Metals completed an upsized closing of its non‑brokered private placement, issuing 2,940,000 units at $0.10 per unit for gross proceeds of $294,000.
• The total funds raised to date from the private placement now amount to $2,204,000 across three closings.
• Proceeds are earmarked primarily for a fully funded drill program at the historic Silver King mine site, with additional allowance for general corporate purposes.

Key Details

• Closing Details: 2,940,000 units issued; issue price $0.10 per unit; gross proceeds $294,000.
• Aggregate Funding: Total of $2,204,000 raised from three closings (Nov 12, Dec 2, and Dec 31, 2025).
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms: Warrants exercisable for 36 months at $0.175 per share.
• Use of Proceeds: Primarily to fund a minimum ~1,000 m drill program targeting the upper half of the steeply dipping Silver King mineralized body and adjacent stockwork; remainder for general corporate purposes.
• Future Subscriptions: Company expects additional subscriptions totaling approximately $75,000 in the coming days.
• Hold Period: Units subject to a four‑month hold period under Canadian securities laws.
• Finder’s Warrants & Fees: Issued 185,200 finder’s warrants (exercisable at $0.10 per share for 24 months) and paid $18,520 in finder’s commissions; also paid a $7,000 cash fee to a financial advisor.
• Regulatory Notice: Securities not registered under the U.S. Securities Act; offering restricted from U.S. persons.

Notable Quotes

“With the exception of one investor, every subscriber in this last closing is a new shareholder of Prismo,” said Alain Lambert, CEO. “Our immediate priority is to undertake our fully funded drill program….”