Halcones Precious Metals Announces AGM Results and Closing of First Tranche of Private Placement

Halcones Precious Metals Corp. announced the closing of the first tranche of its non-brokered private placement on October 15, 2026. The company raised gross proceeds of $550,000 from the issuance of 11,000,000 units priced at $0.05 per unit. Each unit consists of one common share and one common share purchase warrant, which allows the holder to acquire one additional share at $0.05 for a period of 24 months.

Finder’s fees for the transaction include $33,000 in cash and 660,000 non-transferable warrants with an exercise price of $0.05. The proceeds are designated for obtaining surface rights to the Polaris project, continuing exploration activities, and general corporate working capital. The final tranche of the offering is expected to close the following week.

At its Annual General and Special Meeting, the company approved the election of three directors, the appointment of auditors McGovern Hurley LLP, and the adoption of a stock option plan. The securities carry a statutory hold period of four months and one day, expiring on February 16, 2027.

Halcones Precious Metals Corp. (HPM) closed the first tranche of its capital raise, a move that directly follows the announcements made on October 8 and 9 and fulfills a previously disclosed financing plan. The company placed shares at $0.05, representing approximately a 25% premium to the recent market trading range of $0.03–$0.04, a pricing structure that indicates modest investor appetite despite the company's liquidity constraints.

The financing addresses the critical need to fund surface rights acquisition and legal proceedings for the Polaris project, which had been stalled due to landowner negotiations. While the capital injection extends the company's runway, it does not de-risk the underlying project or resolve the pending court decision regarding surface access.

The transaction involves the issuance of 11 million new shares and 11.66 million warrants, introducing near-term dilution and future selling pressure that offsets the positive cash infusion. The news is expected and incremental, serving as a continuation financing rather than a transformative event.

Halcones Precious Metals Corp. is an early-stage exploration company focused on the Polaris Project in northern Chile. The project is located in a mining-friendly jurisdiction, approximately 150 km south of Antofagasta and 70 km north of Taltal. The land package spans 5,777.5 hectares with year-round access via major highways and proximity to ports and electricity infrastructure.

Surface sampling over a 3.9-kilometer strike length has identified extensive gold mineralization, with the North Zone anomaly showing bedrock samples up to 55 g/t Au. The project has never been diamond drilled, and no mineral resources or reserves have been defined. Management plans an initial 8-hole drill program (~130 m depth) to test the depth continuity of the high-grade surface gold veins and stockworks.