Greenlight closes $11.5-million bought deal

Executive Summary

• Greenlight Metals Inc. has closed its previously announced bought deal private placement, raising gross proceeds of $11,511,500.
• The company issued 32.89 million common shares at a price of $0.35 per share, including the full exercise of the underwriters' over-allotment option.
• Net proceeds will be utilized for development at the Bend project in Wisconsin, exploration on the Penokean VMS belt, property payments, and general corporate working capital.

Key Details

• Transaction Structure: Bought deal private placement offering.
• Gross Proceeds: $11,511,500.
• Share Price: $0.35 per share.
• Shares Issued: 32,890,000 common shares (including 4,290,000 shares from the full exercise of the underwriters' option).
• Underwriters: Stifel Nicolaus Canada Inc. and TD Securities Inc. (joint bookrunners and co-lead underwriters).
• Underwriting Agreement Date: November 26, 2025.
• Use of Proceeds: Development purposes at the Bend project (Wisconsin), exploration on the Penokean VMS belt (Wisconsin), property payments, project support, and general corporate and working capital purposes.
• Underwriter Compensation:
  • Cash Commission: $615,653.85.
  • Broker Warrants: 1,544,622 non-transferable warrants issued.
• Warrant Terms: Each warrant is exercisable into one share at an exercise price of $0.35 per share, exercisable at any time prior to November 26, 2027.
• Regulatory Exemption: Conducted pursuant to the listed issuer financing exemption under National Instrument 45-106 and Coordinated Blanket Order 45-935.
• Hold Periods:
  • Common Shares: No hold period in Canada.
  • Broker Warrants: Subject to a statutory four-month hold period.

Notable Quotes

• No direct quotes from management were included in the provided text.