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Financings

Giga Metals closes $1.49M first tranche of placement

By The Northwire Desk — AI Analysis Oct 29, 2025 · 19:57 GIGA · 0.135 Giga Metals Corporation
GIGA · Price

Executive Summary

  • Giga Metals Corp. has closed the first tranche of its private placement of critical mineral flow-through and non-flow-through units, increasing aggregate proceeds to $1,525,000.
  • The company raised $1,122,900 from the sale of 8,637,693 flow-through units and $374,452 from the sale of 3,404,109 non-flow-through units.
  • Proceeds are designated for the exploration of the Turnagain nickel-cobalt project, working capital, and general corporate purposes.

Key Details

  • Flow-Through Units (FT):
    • Quantity: 8,637,693 units.
    • Price: $0.13 per unit.
    • Gross Proceeds: $1,122,900.
    • Composition: Each unit includes one flow-through share qualifying as a critical mineral flow-through share under the Income Tax Act (Canada) and one non-transferable share purchase warrant.
  • Non-Flow-Through Units (NFT):
    • Quantity: 3,404,109 units.
    • Price: $0.11 per unit.
    • Gross Proceeds: $374,452.
    • Composition: Each unit includes one non-flow-through share and one non-transferable share purchase warrant.
  • Warrant Terms (Both FT and NFT):
    • Exercise Price: $0.25 per share.
    • Duration: 36 months from the date of issuance.
  • Use of Proceeds:
    • General: Exploration of the Turnagain nickel-cobalt project, working capital, and general corporate purposes.
    • Flow-Through Specific: To advance the Turnagain project and any other Canadian properties acquired, with an amount equal to the gross proceeds from FT units incurred as eligible Canadian exploration expenses qualifying as flow-through mining expenditures.
  • Finders' Fees:
    • Total Cash Paid: $102,574.
    • Total Warrants Issued: 822,563 finders' warrants.
    • Warrant Terms: Exercisable into one common share at $0.13 per share for a period of three years from issuance (Oct. 29, 2025).
  • Future Tranche:
    • A second tranche is anticipated to close on or about Nov. 5, 2025, subject to regulatory approvals including TSX Venture Exchange approval.

Notable Quotes

  • No direct quotes from the CEO/President were included in the provided text.
Read the original news release →

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