Viridian Metals Announces Closing of First Tranche of Financing and Short Form Vertical Amalgamation

Executive Summary

• Viridian Metals closed the first tranche of its non‑brokered private placement, raising $591,543.68 from flow‑through shares ($0.75 each) and hard‑dollar units ($0.56 each).
• The company completed a short‑form vertical amalgamation with its wholly‑owned subsidiary to streamline reporting and reduce administrative costs; no share capital was changed.
• A correction was issued for the number of finder warrants previously reported, increasing the total to 58,334 warrants with an extended expiry date (June 4 2028).

Key Details

• Financing Structure
• Flow‑Through Shares: 296,672 shares @ $0.75 → $222,504 gross proceeds.
• Hard Dollar Units: 658,999 units @ $0.56 → $369,039.68 gross proceeds.
• Each Hard Dollar Unit includes one common share + half of a warrant exercisable at $0.75 (expires Dec 2 2027).
• Total Gross Proceeds: $591,543.68.
• Use of Proceeds
• Flow‑through proceeds earmarked for eligible Canadian exploration expenses on Labrador projects (surface geochemistry, geophysics, drill targeting) and to be renounced by Dec 31 2025.
• Hard Dollar Unit proceeds allocated to general working capital and corporate purposes.
• Finder’s Fee & Warrants
• Cash finder’s fee: $21,840.28 (7% of proceeds from subscribers introduced by finders).
• Issued 32,667 Finder Warrants (exercise $0.75, expire Dec 2 2027).
• Share and Warrant Issuances
• Total common shares issued: 955,671 (including 296,672 flow‑through shares).
• Total warrants issued (incl. finder): 310,380 (exercise $0.75, expire Dec 2 2027).
• Statutory Hold Period: All securities subject to a 4‑month‑plus‑1‑day hold expiring April 3 2025.
• Vertical Amalgamation
• Effective December 1 2025, Viridian Metals Inc. amalgamated with its subsidiary (Viridian Metals Corp.).
• No new securities issued; share capital unchanged aside from financing tranche.
• Subsidiary’s shares cancelled; assets, liabilities, obligations assumed by the parent.
• Finder Warrant Correction
• Original report: 29,167 finder warrants (exercise $0.75, expire May 13 2028).
• Corrected issuance: 58,334 finder warrants (exercise $0.75, expire June 4 2028).

Notable Quotes

• “This raise was driven by investor demand, not capital need. Viridian is already well funded, and this initial tranche allows us to bring committed investors into the fold,” – Tyrell Sutherland, President & CEO.