Bathurst Metals Announces Non-Brokered Private Placement

Executive Summary

• Bathurst Metals Corp. announced a non-brokered private placement of up to 18,750,000 units at C$0.08 per unit, targeting up to C$1.5 million in aggregate gross proceeds.
• Each unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at $0.16 per share for a 36-month period following closing.
• Net proceeds will fund ongoing exploration in Nunavut and British Columbia, operating and administrative expenses, working capital, and general corporate purposes, with closing expected around July 24, 2026, pending TSXV approval.

Key Details

• Financing Structure: Non-brokered private placement of Units.
• Offering Price: C$0.08 per Unit.
• Quantity & Gross Proceeds: Up to 18,750,000 Units for aggregate gross proceeds of up to C$1.5 million.
• Unit Composition: Each Unit comprises one common share and one-half of one common share purchase warrant (each whole warrant entitles the holder to acquire one additional share).
• Warrant Terms: Exercise price of $0.16 per share; exercisable for 36 months immediately following the Closing Date.
• Closing Date: Expected on or about July 24, 2026.
• Use of Proceeds: Fund ongoing exploration work in Nunavut and British Columbia, operating and administrative expenses, working capital, and general corporate purposes.
• Regulatory Conditions & Hold Period: Subject to TSX Venture Exchange approval; shares, warrants, and warrant shares will be subject to a statutory hold period of four months plus one day from the Closing Date.
• Pricing Flexibility: TSXV has not approved the Offering Price or Exercise Price; both remain subject to change.
• Insider Participation: Expected to participate; will constitute a related party transaction under MI 61-101, with exemptions from formal valuation and minority approval relied upon as the related party portion is not expected to exceed $2,500,000.
• Finder’s Fees: Corporation may pay arm’s length parties a commission, finder’s fee, or similar payment (cash, securities, or asset interest); further details to be disclosed in a subsequent news release.