Mogotes Metals arranges $10-million private placement

Executive Summary

• Mogotes Metals Inc. has entered into an agreement for a $10 million bought deal private placement offering of 31.25 million units at $0.32 per unit, with Stifel Canada acting as sole bookrunner.
• The offering includes an over-allotment option for up to 4,687,500 additional units, potentially increasing gross proceeds to $11.5 million.
• Net proceeds will be used for exploration and development of the Filo Sur property and general working capital.

Key Details

• Transaction Structure: Bought deal private placement offering of units pursuant to the listed issuer financing exemption.
• Gross Proceeds: $10 million base; up to $11.5 million with full exercise of over-allotment option.
• Unit Price: $0.32 per unit.
• Quantity: 31,250,000 units (base); up to 35,937,500 units with over-allotment.
• Underwriter: Stifel Canada (sole bookrunner) with a syndicate of underwriters.
• Over-Allotment Option: Option to purchase up to 4,687,500 additional units at $0.32 per unit, exercisable until 48 hours prior to closing.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Investors):
  • Exercise Price: $0.53 per common share.
  • Term: 36 months following the closing date.
• Use of Proceeds: Financing exploration work programs and development of the Filo Sur property, and general working capital purposes.
• Closing Date: Expected on or about January 22, 2026.
• Regulatory Conditions: Subject to receipt of all necessary approvals, including acceptance by the TSX Venture Exchange. Units are not subject to a statutory hold period under Canadian securities laws.
• Underwriter Compensation:
  • Cash Commission: 6.0% of gross proceeds.
  • Compensation Warrants: 6.0% of the number of units sold.
  • Compensation Warrant Terms: Entitles holder to acquire a common share at the issue price ($0.32) for a period of 24 months from the date of issue.

Notable Quotes

• None provided in the text.