Viridian Metals Announces Flow-Through Private Placement, Warrant Extension and Date of Annual General and Special Meeting

On May 14, 2026, Viridian Metals announced a binding agreement for a $750,000 non‑brokered private placement of flow‑through units at $0.52 per unit – a 60% premium to the May 13 close of $0.32. Each unit comprises one flow‑through share and one‑half warrant exercisable at $0.65 for 24 months. Pavilion Flow‑Through L.P. (managed by Accilent Capital Management Inc.) will become a “Control Person,” holding approximately 20.84% of the non‑diluted shares following closing. The placement requires CSE acceptance and shareholder approval at the June 22, 2026, annual meeting. The Company is also extending the expiry of 2,222,000 outstanding warrants from May 23, 2026, to May 23, 2027, with the $0.45 exercise price unchanged. Proceeds will fund eligible Canadian exploration expenses in Labrador.

The placement is Material‑Positive because it injects new capital at a substantial premium in a deeply depressed market, signaling strong conviction by an existing institutional shareholder. For a micro‑cap explorer trading at all‑time lows, this capital injection and the premium price provide a near‑term floor and may restore some investor confidence. However, the raise is small ($750,000) relative to the scale of the Sedna and Kraken projects, and the creation of a Control Person introduces governance considerations that require shareholder approval. While it is not a game changer (it is not a first‑time investment by a widely recognized mining luminary, nor does it materially advance the projects’ resource stages), the premium and the institutional backing stand out in contrast to the stock’s freefall.

Viridian Metals is a Canadian mineral explorer focused on copper and base metals in Labrador. Its flagship Sedna Project is a basin‑scale sediment‑hosted copper system covering over 2,600 km² in the Seal Basin. Geophysical and surface mapping have confirmed deep‑rooted plumbing structures and laterally extensive copper traps, de‑risking the district‑scale concept. The Kraken Project is a magmatic nickel‑copper intrusive system with near‑surface sulphide mineralization traced along a >5 km EM conductor. The 2025 drilling program at Kraken returned wide, low‑grade intervals (e.g., 0.98% CuEq over 5.05 m in hole VKS25‑027) confirming continuity over 600 m of strike. Both projects remain at an early exploration stage with no resource estimates.