Abitibi Metals closes $16.1-million bought deal

Executive Summary

• Abitibi Metals Corp. has closed a bought deal public offering of common and flow-through shares, raising aggregate gross proceeds of $16,104,600.
• The offering included 13,144,500 hard-dollar common shares at $0.35 per share and 20,182,500 flow-through shares at $0.57 per share, including the full exercise of the overallotment option.
• Proceeds from the flow-through shares are designated for exploration expenses related to the B26 polymetallic deposit, with expenses to be incurred by December 31, 2026.

Key Details

• Total Gross Proceeds: $16,104,600
• Total Shares Issued: 33,327,000 common shares
• Underwriters: BMO Capital Markets (sole bookrunner and lead underwriter), Haywood Securities Inc. (co-lead manager), ATB Securities Inc., Desjardins Securities Inc., Paradigm Capital Inc., and Stifel Nicolaus Canada Inc.
• Hard-Dollar Common Shares:
  • Quantity: 13,144,500 shares
  • Price: $0.35 per share
  • Gross Proceeds: $4,600,575
• Flow-Through Shares:
  • Quantity: 20,182,500 shares
  • Price: $0.57 per share
  • Gross Proceeds: $11,504,025
• Use of Proceeds:
  • Flow-through share proceeds: Incurrence of exploration expenses for the B26 polymetallic deposit (qualifying as Canadian exploration expenses and flow-through critical mineral mining expenditures).
  • Common share proceeds: General corporate purposes.
• Flow-Through Terms:
  • Expenses to be incurred on or before December 31, 2026.
  • Renunciation to initial subscribers with an effective date no later than December 31, 2025.
  • Qualifies under Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
• Underwriting Commission: 6.0% of total gross proceeds, paid from the proceeds received.
• Agreement Date: December 1, 2025