Prismo Metals closes $294,000 private placement

Executive Summary

• Prismo Metals Inc. announced the upsized closing of its non-brokered private placement, raising an additional $294,000, bringing total aggregate gross proceeds to $2,204,000.
• The company has secured full funding for its planned drill program at the Silver King project, which will target a minimum of 1,000 meters to test the upper half of the mineralized body and adjacent stockwork.
• The financing consisted of 2.94 million units issued at 10 cents per unit, with net proceeds designated primarily for drilling and general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement of units.
• Closing Details:
  • Issued 2.94 million units.
  • Issue price: 10 cents per unit.
  • Gross proceeds from this specific closing: $294,000.
• Aggregate Financing Totals:
  • Total aggregate gross proceeds raised: $2,204,000.
  • Total units issued to date: 22.04 million units.
  • Previous closings: $1,745,000 (Nov. 12, 2025) and $165,000 (Dec. 2, 2025).
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise price: 17.5 cents per share.
  • Duration: 36 months from the date of issue.
• Use of Proceeds: Primarily for drilling at the Silver King project and general corporate purposes.
• Future Subscriptions: Company expects to accept additional subscriptions from new shareholders for approximately $75,000 in the coming days.
• Hold Period: Units are subject to a four-month hold period under Canadian securities laws.
• Finder’s Fees and Commissions:
  • Finders' warrants issued: 185,200 warrants.
  • Finders' commissions paid: $18,520.
  • Finder's warrant terms: Exercisable for 24 months at an exercise price of 10 cents per share.
  • Financial adviser cash fee: $7,000.
• Drill Program Update:
  • Focus: Historic Silver King mine site.
  • Target: Upper half of the steeply dipping pipelike Silver King mineralized body and potential mineralization adjacent to the dense stockwork.
  • Scope: Minimum of approximately 1,000 meters.

Notable Quotes

• "With the exception of one investor, every subscriber in this last closing is a new shareholder of Prismo. Our immediate priority is to undertake our fully funded drill program, as previously announced." — Alain Lambert, Chief Executive Officer