Bahia Metals Corp. Completes Initial Public Offering of $5,750,000, with Full Exercise of Over-Allotment Option

Executive Summary

• Bahia Metals Corp. completed its IPO of 11,500,000 units at $0.50 per unit, raising gross proceeds of $5.75 million.
• Units consisted of one common share and half a warrant; warrants allow purchase of shares at $0.90 until Feb 11 2029, with acceleration provisions tied to the share price.
• Net proceeds will be used for work programs at the Mangueiros Nickel‑Sulphide‑Copper‑Cobalt Project in Bahia State, Brazil, and for general working capital.

Key Details

• Units sold: 11,500,000 (including full exercise of a 15 % over‑allotment option).
• Price per unit: $0.50.
• Gross proceeds: $5,750,000.
• Unit composition: 1 common share + ½ warrant; each whole warrant permits purchase of one common share at $0.90 (expires Feb 11 2029).
• Acceleration clause: If CSE closing price ≥ $1.50 for seven trading days within any twenty‑day period, all warrants expire 30 days after written notice.
• Agent: Canaccord Genuity Corp., exclusive IPO agent per agency agreement dated Jan 30 2026.
• Commission & compensation to Agent:
• Cash commission: $347,958.
• Equity compensation: 100,000 common shares issued to the Agent.
• Warrants granted to Agent: up to 795,916 common shares at $0.50 per share (subject to acceleration and a six‑month hold period).
• Use of net proceeds: Funding work programs at the Mangueiros Project and general working capital.
• Trading commencement: Shares began trading on CSE on Feb 12 2026 under ticker “BMT.CN”.
• CEO comment: Stephen Goodman noted completion of requirements to secure 100 % ownership of the project previously held by investors related to Appian Capital Advisory Limited, framing the IPO as a positive step toward shareholder value.
• Upcoming event: Company will attend PDAC 2026 (Mar 1‑4) and invites meetings with supporters.

Notable Quotes

“Bahia Metals has completed the requirements to secure 100% of the project that was initially owned and advanced by investors related to Appian Capital Advisory Limited. This milestone is a positive step in the company's trajectory towards increasing shareholder value.” – Stephen Goodman, CEO & Director.