Giga Metals closes unit private placement for $900,000

Executive Summary

• Giga Metals Corp. has closed its previously announced non-brokered private placement of flow-through shares, raising aggregate proceeds of $900,000.
• The company issued 8,181,818 flow-through shares at a price of $0.11 per share.
• Proceeds are designated for exploration activities at the Turnagain project and other Canadian properties, with specific tax obligations to be renounced to purchasers by December 31, 2026.

Key Details

• Transaction Structure: Non-brokered private placement of flow-through shares.
• Aggregate Proceeds: $900,000.
• Shares Issued: 8,181,818 flow-through shares.
• Price Per Share: $0.11.
• Use of Proceeds: Advancing exploration activities at the Turnagain project and any other Canadian properties acquired by the company.
• Tax Obligations: The company must incur eligible "Canadian exploration expenses" equal to the gross proceeds, renounced with an effective date no later than December 31, 2026, and incurred on or before December 31, 2027.
• Hold Period: Securities have a hold period expiring four months plus one day after issuance, specifically July 21, 2026.
• Finder’s Fees: 8% of aggregate proceeds ($72,000) payable in common shares.
• Finder’s Warrants: 654,545 warrants issued.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at $0.11 per share.
• Warrant Expiry: One year following issuance, expiring March 20, 2027.
• Control Blocks: No control blocks were created as a result of the private placement.