Coniagas Announces Amended and Restated LIFE Offering Document

The most recent news, dated December 8, 2025, announces an Amended and Restated LIFE (Listed Issuer Financing Exemption) Offering Document. This amends the terms of a private placement financing previously announced on December 3, 2025.

Under the amended terms: * The offering price per unit is now C$0.065 (increased from C$0.06). * Each unit consists of one common share and one common share purchase warrant. * Each warrant is exercisable at C$0.085 (increased from C$0.08) for a period of 60 months (5 years) from the issue date. * The gross proceeds from the full subscription of 17,197,773 units are expected to be C$1,117,855.25 (increased from C$1,031,866.38). * Finder's fees will be 8% in cash (C$89,428.42) and 8% in warrants (1,375,822 warrants exercisable at C$0.065 for 60 months). * The use of proceeds remains the same: advancement of the Graal property and general corporate and working capital purposes. * The offering is made under the Listed Issuer Financing Exemption (LIFE) and requires TSX Venture Exchange approval.

This amended financing news is a procedural update to a critical capital raise. While the increase in unit price from C$0.06 to C$0.065 and the warrant exercise price from C$0.08 to C$0.085 represents a slightly more favorable term for existing shareholders and a higher total raise, it does not fundamentally alter the material impact of the financing itself. The previous announcement of the LIFE offering (December 3, 2025) was already considered "Material - Positive" as it signaled a concrete step towards addressing the company's severe cash shortage and negative working capital position.

Coniagas Battery Metals Inc. reported a dangerously low cash balance of C$1,078 as of September 30, 2025, and negative total equity of C$-145,061. Without this or a similar financing, the company would be at significant risk of failing to meet its operational and general corporate expenses. The approximately C$1.1 million raise, though highly dilutive (adding over 17 million new shares to the 34.4 million outstanding, representing about 50% dilution), is absolutely necessary for the company's continued existence and to fund planned exploration activities at the Graal property.

The fact that the company secured an agent (Research Capital Corporation) for the offering and has now amended the offering document suggests progress towards closing this crucial financing. However, it's still an exploration-stage company facing substantial future capital needs beyond this raise. The financing is a survival mechanism rather than a growth driver at this stage.

Coniagas Battery Metals Inc. (TSXV: COS) is a Canadian mineral exploration company focused on developing critical metals for the electric vehicle (EV) market. Its primary asset is the Graal Property, a 100% owned nickel-copper-cobalt-platinum-palladium (Ni-Cu-Co-PGM) project located north of Saguenay-Lac St. Jean, Quebec.

Flagship Project Development (Graal Property): * Stage: Exploration. * Geology: Identified as a potential low-grade, large-volume orebody with local, richer lenses along a 6 km strike length within an anorthositic suite, similar to Voisey's Bay. * Exploration History: Successful historical exploration, including geophysics and shallow drilling, reportedly hitting mineralization in almost every hole. Notable drill intercepts include GRL-22-60 (28.9m of 0.73% Ni, 0.41% Cu, 0.09% Co) in the MHY zone. * Recent Activities: * February 2025: Hired Laurentia Exploration to design and manage ongoing exploration. * March 2025: Planned 9,500m, 58-hole drill program for infill and step-out drilling, preceded by a property-wide airborne mag-EM survey. * May 2025: Began fieldwork and prospecting on southern claims to define shallower mineralization. * August 2025: Partnered with Université du Québec à Chicoutimi (UQAC) for metallogenic studies to improve exploration models. * September 2025: Received drilling permit ("Authorization of impact-causing exploration work (ATI)") from Quebec's MRNF. * November 2025: Launched airborne HTDEM survey covering 578 linear kilometers to define mineralization extension and plan the next drilling phase. Confirmed historical drill intersection from 2022 (GRL-22-60). * Infrastructure: The property boasts year-round road accessibility, proximity to the Chute-de-Passe power station, and access to a skilled workforce and port facilities via the Lac-St. Jean industrial hub. * Forward Plans: Additional drilling, production of an NI 43-101 resource report, metallurgical testing, and continued First Nations consultations are explicitly stated objectives.