J2 Metals to close final tranche of placement April 15

Executive Summary

• J2 Metals Inc. has extended the closing of its non-brokered flow-through private placement financing, originally announced on Jan. 29, 2026.
• The first tranche of the offering closed on Feb. 23, 2026, raising $478,000 from the issuance of 1,365,714 flow-through subscription receipts.
• The release of funds and conversion of receipts to common shares is contingent upon the completion of a plan of arrangement with Twenty Mile Metals Inc., which is expected to be satisfied within the next few weeks.

Key Details

• Financing Structure: Non-brokered flow-through private placement financing of up to $1.5 million.
• First Tranche Closing: Closed on Feb. 23, 2026.
• Units Issued: 1,365,714 flow-through subscription receipts.
• Price: 35 cents per FT subscription receipt.
• Gross Proceeds (Tranche 1): $478,000.
• Underlying Security: Each FT subscription receipt entitles the holder to one common share in J2 Metals upon satisfaction of escrow release conditions.
• Warrants: No warrants will be issued in connection with this offering.
• Escrow Conditions: Funds are held in escrow pending the completion of the plan of arrangement between J2 Metals and Twenty Mile Metals Inc.
• Refund Clause: If conditions are not met, funds (plus accrued interest) will be returned to holders, and securities cancelled.
• Remaining Tranche: Expected to close on or before April 15, 2026, subject to regulatory approvals including TSX Venture Exchange acceptance.
• Project Updates (Miniac): Phase I drilling confirmed grades up to 4.8 g/t Au and 6.9% Zn over 0.3m (DDH DV-80). Recent geophysical surveys identified 19 high-priority targets along a 7km conductive horizon for planned Phase II drilling.
• Project Updates (Napoleon): Rock-chip samples up to 596 g/t Au; historical drilling by Teck and Kennecott reported 8.9 g/t Au over 3m and 0.9 g/t Au over 79m.

Notable Quotes

• "We anticipate the escrow conditions will be met within the next few weeks and the subscription receipts converted to shares." — Thomas Lamb, Chief Executive Officer