Lux Metals Closes $3,750,000 First Tranche Private Placement

Executive Summary

• Lux Metals Corp. closed the first tranche of its non‑brokered private placement, issuing 18,750,000 units at $0.20 per unit for total gross proceeds of $3.75 million.
• Each unit includes one common share and one transferable warrant (exercisable at $0.40 per share until 26 Jan 2028); additional finder’s warrants were also issued.
• Proceeds are earmarked for exploration expenses and general working capital, enhancing the company’s liquidity for upcoming projects.

Key Details

• Units Issued: 18,750,000 units at $0.20 per unit.
• Gross Proceeds: $3,750,000.
• Unit Composition: 1 common share + 1 transferable share purchase warrant (exercise price $0.40, expiry 26 Jan 2028).
• Finder’s Warrants: 599,200 warrants issued to finders at $0.40 exercise price, also expiring 26 Jan 2028; finder’s fees paid totaled $119,840.
• Use of Proceeds: Primarily for exploration costs and general working capital.
• Regulatory Holds: All securities subject to holds expiring 27 May 2026.
• Closing Date: First tranche closed on the date of release (27 Jan 2026).

Notable Quotes

“The successful closing of this placement provides us with essential capital to advance our exploration program and sustain operational momentum,” – Carl Ginn, President and CEO.