TSX-V: TT announces Closing of Tranche 1 Flow-Through Financing for $5.2MM

Executive Summary

• Total Metals Corp. closed the first tranche of its non‑brokered private placement, raising C$5,216,454 in gross proceeds.
• The offering consisted of 3,056,481 Critical Minerals Flow‑Through (CMFT) Units at C$1.15 each and 1,620,477 Flow‑Through (FT) Units at C$1.05 each.
• Net proceeds will be used to fund eligible flow‑through mining expenditures for the Electrolode, High Lake, and West Hawk Lake projects; the transaction remains subject to TSX Venture Exchange final approval.

Key Details

• Units Issued
• CMFT Units: 3,056,481 @ C$1.15 per unit → C$3,514,963 gross proceeds.
  • Each CMFT Unit = 1 common share (critical‑mineral flow‑through) + ½ of a warrant.
  • Whole CMFT Warrant: purchase 1 common share at C$1.15 for 36 months.
• FT Units: 1,620,477 @ C$1.05 per unit → C$1,701,491 gross proceeds.
  • Each FT Unit = 1 flow‑through common share + ½ of a warrant.
  • Whole FT Warrant: purchase 1 common share at C$1.15 for 36 months.
• Finder Compensation
• Cash finder’s fees paid: C$312,987.24.
• Finder Warrants issued: 280,618 non‑transferable warrants (each purchasable at C$1.10 per share, 36‑month term).
• Use of Proceeds
• To incur eligible “flow‑through critical mineral mining expenditures” and “flow‑through mining expenditures.”
• Expenditures to be renounced to subscribers no later than December 31, 2026.
• Net proceeds earmarked for advancement of the wholly owned Electrolode Project, plus the High Lake and West Hawk Lake projects.
• Regulatory & Holding Period
• Offering subject to final approval by the TSX Venture Exchange.
• All securities subject to a statutory hold period of four months and one day, expiring April 6, 2026.

Notable Quotes

(No direct quotes were provided in the release.)