Halcones Precious Metals Announces Closing of Final Tranche of Private Placement

Halcones Precious Metals Corp. closed the second and final tranche of its non-brokered private placement on November 3, 2026. The company issued 9,000,000 units at $0.05 per unit, generating gross proceeds of $450,000 and completing the $1,000,000 offering announced in October 2026. Each unit comprises one common share and one common share purchase warrant exercisable at $0.05 for 24 months.

Insiders, including directors and officers, participated in the second tranche, acquiring 1,700,000 units for $85,000. The company also announced a write-off of approximately $1,434,860 in accrued salaries, fees, and other amounts owed by management, directors, and consultants. Proceeds from the offering are designated for obtaining surface rights to the Polaris project, continuing exploration, and general corporate working capital.

Finder's fees of $6,300 cash and 126,000 non-transferable warrants were paid for this tranche. Securities carry a statutory hold period of four months and one day, expiring March 4, 2027.

Halcones Precious Metals Corp. (HPM) has closed the final tranche of its previously announced $1 million financing plan, securing immediate liquidity to fund the acquisition of surface rights and a planned diamond drill program at its Polaris project. The transaction also includes a $1.43 million write-off of accrued management and consultant fees, a move that materially reduces liabilities and improves the company’s working capital position, directly addressing prior liquidity constraints.

Insider participation in the financing demonstrates management confidence and aligns interests, although the transaction was structured under MI 61-101 exemptions due to its size relative to market capitalization. This financing and debt relief extend the company’s operational runway, reducing the immediate risk of capital shortfall while it navigates the legal process for surface access in Chile. The impact is incremental and follows the October announcements; it does not introduce new strategic shifts or unexpected upside, but it solidifies the company's ability to proceed with exploration.

Halcones Precious Metals Corp. (HPM) is an exploration-stage precious metals company focused on the Polaris project in the coastal mining district of northern Chile. The project covers 5,777.5 hectares and features historic gold production, with artisanal miners extracting approximately 5 tonnes of gold per month in the 1970s.

Mineralization style includes quartz vein and stockwork gold hosted in tonalite to granodiorite, controlled by major faults. Surface sampling has returned high-grade results, including assays up to 55 g/t Au, with a 3.9 km trend of gold-bearing mineralization.

The project is in the exploration phase with no drill testing conducted to date. The company plans an initial 8-hole diamond drill program (~130 m depth) targeting the North and South Zones. No mineral resources or reserves have been defined.