Bravo Mining increases offering to $75-million

Executive Summary

• Bravo Mining Corp. has increased the size of its previously announced bought deal offering of common shares to 17.05 million shares at $4.40 per share, raising gross proceeds of approximately C$75 million.
• Concurrently, the company entered into a non-binding indicative term sheet for a private placement with Orion Mine Finance Management LLP to subscribe for 7,897,727 common shares at the same price, generating gross proceeds of C$34.75 million.
• The combined net proceeds will be used to advance the Luanga PGM-plus-Au-plus-Ni project through to a preliminary feasibility study, expand mineral resources, continue exploration of IOCG-style and Ni-PGM-rich mineralization, and for general working capital.

Key Details

• Bought Deal Offering:
  • Size: Increased to 17.05 million common shares.
  • Price: C$4.40 per common share.
  • Gross Proceeds: Approximately C$75 million.
  • Underwriters: Syndicate led by BMO Capital Markets and National Bank Capital Markets.
  • Overallotment Option: Underwriters granted an option to purchase up to an additional 15% of the offering (approx. 2.56 million shares) exercisable within 30 days of closing.
  • Expected Closing: On or about January 20, 2026, subject to TSX Venture Exchange approval and customary conditions.
• Concurrent Private Placement:
  • Investor: Orion Mine Finance Management LLP (or designated affiliate).
  • Shares: 7,897,727 common shares.
  • Price: C$4.40 per share.
  • Gross Proceeds: C$34.75 million.
  • Structure: Non-brokered private placement.
  • Conditions: Subject to customary conditions, including completion of the bought deal offering and TSX Venture Exchange approvals; the offering is not contingent upon the consummation of the private placement.
• Participation Rights Agreement:
  • Orion will have the right to participate pro rata in future equity offerings.
  • Orion will have the right to match any offer to provide project financing, acquisition financing, or production-linked financing.
  • Orion intends to commit to providing up to US$300 million of financing support (equity, debt, and other instruments) upon satisfaction of mutually agreed milestones.
• Use of Proceeds:
  • Advance the Luanga PGM-plus-Au-plus-Ni project to completion of a preliminary feasibility study and subsequently a feasibility study (if warranted).
  • Expand mineral resources associated with the Luanga project.
  • Continue exploration and evaluation of IOCG-style mineralization and Ni-PGM-rich massive sulphides within the Luanga property.
  • General working capital purposes.
• Regulatory Filings:
  • A prospectus supplement to the company's Short Form Base Shelf Prospectus (dated Dec. 22, 2025) will be filed with securities regulatory authorities in Canada (except Quebec).