South Pacific Metals arranges $8-million offering

Executive Summary

• South Pacific Metals Corp. has entered into an agreement with a syndicate led by BMO Capital Markets to market up to C$8 million in units via a private placement on a best-efforts basis.
• Each unit consists of one common share and one-half of one common share purchase warrant, priced at an indicative 54 cents per unit.
• Net proceeds are intended for expanding exploration activities and general corporate purposes, with the offering expected to close around December 8, 2025.

Key Details

• Offering Size: Up to C$8 million in units.
• Price: Indicative price of 54 cents per unit.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of 90 cents per share.
• Warrant Duration: Warrants are exercisable for a period of 24 months following the closing date.
• Over-Allotment Option: Agents have an option to purchase up to an additional 15% of the units (at the issue price and on the same terms) exercisable up to 48 hours prior to the closing date.
• Use of Proceeds: Expansion of exploration activities and general corporate purposes.
• Regulatory Basis: Offered in reliance on the listed issuer financing exemption from the prospectus requirement under National Instrument 45-106 (Part 5A) and Coordinated Blanket Order 45-935.
• Hold Period: Securities are not subject to a hold period under applicable Canadian securities laws.
• Jurisdiction: Offered to purchasers resident in all Canadian provinces except Quebec, and other mutually agreed jurisdictions.
• Closing Date: Expected on or about December 8, 2025.
• Conditions: Subject to regulatory approvals, including the TSX Venture Exchange.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.