Miata Metals closes $11.5-million offering

Executive Summary

• Miata Metals Corp. has closed its previously announced short-form prospectus public offering of common shares, raising gross proceeds of $11,500,080.
• The offering included the full exercise of the over-allotment option, resulting in the issuance of 23,958,500 common shares at a price of $0.48 per share.
• Net proceeds will be utilized for exploration activities on the Sela Creek project in Suriname, specifically targeting the Jon's Trend discovery and other targets, as well as for general working capital and corporate purposes.

Key Details

• Gross Proceeds: $11,500,080.
• Shares Issued: 23,958,500 common shares.
• Price Per Share: $0.48 CAD.
• Over-Allotment: The full exercise of the over-allotment option was included in the closing.
• Use of Proceeds: Exploration activities on the Sela Creek project (Suriname), specifically to advance the 2026 work program for the Jon's Trend discovery and other targets, plus general working capital and corporate purposes.
• Underwriters/Agents: Completed on a best-efforts agency basis. Cormark Securities Inc. acted as lead agent and sole bookrunner. Syndicate agents included Clarus Securities Inc., H&P Advisory Ltd., Agentis Capital Markets (First Nations Financial Limited Partnership), Canaccord Genuity Corp., and Haywood Securities Inc.
• Related Party Transaction: One officer of the company (a related party under MI 61-101) participated in the offering for aggregate proceeds of $27,360.
• Regulatory Exemptions: The company relied on exemptions from the formal valuation requirement and minority shareholder approval requirement under Multilateral Instrument 61-101, as the fair market value of the officer's participation did not exceed 25% of the company's market capitalization.
• Prospectus Details: Offered via short-form prospectus dated Dec. 3, 2025, filed with securities regulatory authorities in Canadian provinces (excluding Quebec) and other jurisdictions.

Notable Quotes

• "The closing of this offering represents a significant milestone for Miata... We're extremely encouraged by the strong institutional demand for this offering, which has added more meaningful depth to our shareholder base. With a bona fide discovery in hand at Jon's Trend, and four other targets with encouraging drill results at Sela Creek, we look forward to advancing our fully funded work program for 2026, which should see us further delineate the Jon's Trend discovery while systematically working towards additional discoveries on the property." — Dr. Jaap Verbaas, Chief Executive Officer