Blue Moon Metals Announces Closing of C$156 Million "Bought Deal" Offerings

• Event: Closing of C$156.25 million dual-track financing (Public Offering + Private Placement).
• Date: May 6, 2026.
• Terms: Issued at C$10.00 per share (15,625,000 total shares: 10,625,000 public + 5,000,000 private).
• Proceeds Use: Construction capital for Nussir and Blue Moon projects; development capital for Springer Tungsten and Apex projects; working capital.
• Context: This closes the financing announced on April 27, 2026 (C$150M intention), confirming execution without dilution surprises beyond initial terms.
• Underwriters: Scotiabank, ATB Cormark Capital Markets, Canaccord Genuity Corp.

• Execution Risk Removed: The closing confirms the capital raise is complete, de-risking the immediate funding gap for Nussir construction and Springer development following the Final Investment Decision (FID).
• Valuation Check: Shares were issued at C$10.00 while trading at ~C$9.09 on May 5th. This indicates a slight premium to market, suggesting management confidence but also potential short-term selling pressure if investors view the $10 price as overvalued relative to current spot prices.
• Capital Adequacy: C$156M is sufficient for initial construction phases of Nussir (estimated remaining US$184M capital costs) and Springer restart, but long-term funding will still be required beyond this tranche.
• Market Sentiment: The stock rallied from $3.00 to over $11.00 prior to the offering; the pullback to $9.09 suggests profit-taking post-financing announcement rather than a fundamental rejection of the project value.

• Blue Moon Metals Inc.: Multi-jurisdictional critical metals developer (Norway, USA).
• Flagship Project: Nussir Copper-Gold-Silver Project (Norway).
  • Status: Final Investment Decision approved; Construction phase initiated.
  • Economics: 13-year mine life, $235M NPV (8%), 19% IRR.
  • Production Target: Q3-2027 start of production.
• Secondary Projects:
  • Springer Tungsten Mine (Nevada): Acquired Feb 2026; Restart target Q4-2027.
  • Apex Germanium/Gallium Mine (Utah): Acquired Mar 2026 from Teck.
  • Blue Moon Polymetallic Project (California): Underground decline construction ongoing.