Northwire Canada EditionThursday, October 15, 2026
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Financings Routine +

Rackla Metals Announces $3.65 Million Non-Brokered Private Placement

Rackla raises $3.65M to fund drilling at its Lentung tungsten project.

By The Northwire Desk — AI Analysis Sep 09, 2026 · 07:00 RAK · 0.25 Rackla Metals Inc.
Executive Summary

Rackla Metals Inc. (RAK) announced a non-brokered private placement to raise gross proceeds of up to $3.65 million. The offering consists of up to 10,000,000 flow-through units priced at $0.365 per unit. Each unit comprises one flow-through common share and one common share purchase warrant. The warrants are exercisable at $0.365 per share for 24 months following closing.

Proceeds from the offering are designated for eligible Canadian exploration expenses on the Lentung tungsten property in the Northwest Territories. Renunciations will be made to purchasers with an effective date no later than December 31, 2026. Closing is subject to TSX Venture Exchange approval.

Material Impact

Rackla Metals Inc. (RAK) has secured financing as a direct follow-up to its previously announced 10,000-metre 2026 exploration program at Lentung. The capital provides necessary funds to support ongoing diamond and reverse circulation drilling campaigns, allowing the company to proceed without relying on external brokers.

The shares were issued at a price of $0.365, representing a ~44% premium to the recent trading range of $0.24-$0.25. The issuance is dilutive by approximately 5.8% on a fully diluted basis, a level considered standard for exploration-stage companies advancing toward a maiden NI 43-101 resource estimate. There were no material surprises or deviations from the company's stated capital plan, with execution risk remaining tied to drilling results and resource definition timelines.

RAK · Price
Company Overview

Rackla Metals Inc. (RAK) is a Canadian exploration company focused on the Lentung tungsten skarn project in the Northwest Territories. The property is located in the Tombstone Tungsten Belt, approximately 60 km by road from the past-producing Cantung mine. Rackla holds 100% ownership of the project, subject to a 1% Net Smelter Return (NSR) royalty.

Historic work by Union Carbide between 1977 and 1982 included 26,900 metres of diamond drilling across 178 holes, identifying 15 tungsten occurrences over a 15-kilometre strike. The company’s 2026 exploration program aims to twin historic holes, confirm high-grade intervals, and expand near-surface mineralization to support a maiden NI 43-101 resource estimate. Additionally, Rackla is evaluating a South Lened rare earth target, which has shown anomalous cerium and lanthanum values.

Read the original news release →

More from Rackla Metals Inc.

Oct 13, 2026 · 07:00

Rackla’s first four holes at Lentung confirm high-grade tungsten skarn, with results already priced into the market.

Drill Results Sep 24, 2026 · 07:01

Rackla raises $3.65m through flow-through financing to fund its tungsten exploration drill program in the Northwest Territories.

Financings Sep 17, 2026 · 07:00

Rackla expands the Lentung tungsten project’s geophysical footprint as metal prices reach record highs.

Drill Results Aug 26, 2026 · 07:00

Rackla has mobilized a second drill rig at its Lentung project, targeting a resource estimate for Q1 2027.

Drill Results Aug 20, 2026 · 07:00

Rackla adds an academic tie-up to its Lentung drill program without releasing new assay data to impact results.

M&A / Property Aug 17, 2026 · 07:00

Rackla has commenced drilling at the Lentung project to target a maiden tungsten resource, marking the first exploration activity at the site in 44 years.

Drill Results