Bravo arranges $50M offering, $34.75M private placement

Executive Summary

• Bravo Mining Corp. announced a bought-deal public offering of 11,365,000 common shares at $4.40 per share, generating approximately C$50 million in gross proceeds.
• Concurrently, the company entered into a non-binding indicative term sheet for a private placement with Orion Mine Finance Management LLP to raise C$34.75 million through the issuance of 7,897,727 common shares.
• The combined net proceeds will be used to advance the Luanga PGM+Au+Ni project through to a preliminary and potentially full feasibility study, expand mineral resources, continue exploration of IOCG-style and massive sulphide mineralization, and for general working capital.

Key Details

• Public Offering Structure: Bought-deal basis via a syndicate of underwriters led by BMO Capital Markets and National Bank Capital Markets.
• Share Quantity (Public): 11,365,000 common shares.
• Price: $4.40 per common share.
• Gross Proceeds (Public): Approximately C$50 million.
• Overallotment Option: Underwriters granted an option to purchase up to an additional 15% of the offering (approx. 1,704,750 shares) exercisable within 30 days of closing.
• Private Placement Counterparty: Orion Mine Finance Management LLP (or designated affiliate).
• Share Quantity (Private): 7,897,727 common shares.
• Price (Private): $4.40 per common share.
• Gross Proceeds (Private): C$34.75 million.
• Private Placement Terms: Non-brokered; includes a participation rights agreement granting Orion pro rata participation in future equity offerings and the right to match project, acquisition, or production-linked financing offers.
• Future Financing Commitment: Orion intends to commit up to US$300 million in financing support (equity, debt, and other instruments) upon satisfaction of mutually agreed milestones.
• Closing Date: Expected on or about Jan. 20, 2026, subject to TSX Venture Exchange approvals and customary conditions.
• Use of Proceeds:
  • Advance Luanga project to completion of a preliminary feasibility study and subsequently a feasibility study (if warranted).
  • Expand mineral resources for the Luanga PGM+Au+Ni project.
  • Continue exploration and evaluation of IOCG-style mineralization and nickel-platinum-group-metal-rich massive sulphides within the Luanga property.
  • General working capital purposes.
• Regulatory Filings: Prospectus supplement to be filed with securities regulatory authorities in Canadian provinces (except Quebec), referencing the short-form base shelf prospectus dated Dec. 22, 2025.