GreenLight Metals Announces Closing of $11.5 Million Bought Deal Financing

Executive Summary

• GreenLight Metals Inc. closed a bought‑deal private placement of 32,890,000 common shares at C$0.35 per share, generating gross proceeds of C$11.5115 million.
• The offering included the full exercise of the underwriters’ option for an additional 4,290,000 shares and issuance of 1,544,622 non‑transferable broker warrants exercisable at C$0.35 until 26 Nov 2027.
• Net proceeds are earmarked for development of the Bend Project (Wisconsin), exploration on the Penokean VMS Belt, property payments, project support, and general corporate/working‑capital purposes.

Key Details

• Offering Size: 32,890,000 common shares (including underwriters’ option).
• Price per Share: C$0.35.
• Gross Proceeds: C$11,511,500.
• Underwriters: Stifel Nicolaus Canada Inc. and TD Securities Inc. (joint bookrunners & co‑lead underwriters).
• Commission Paid to Underwriters: C$615,653.85 (cash).
• Broker Warrants Issued: 1,544,622 warrants, each convertible into one share at C$0.35, exercisable any time before 26 Nov 2027; non‑transferable.
• Use of Proceeds:
• Development of the Bend copper‑gold project (Wisconsin).
• Exploration on the Penokean VMS Belt (Wisconsin).
• Property payments.
• Project support.
• General corporate and working‑capital purposes.
• Exemptions Utilized: Listed Issuer Financing Exemption under NI 45‑106; shares issued without a Canadian hold period, while broker warrants are subject to a four‑month statutory hold.
• Regulatory Notices: Offering not offered or sold in the United States; securities not registered under the U.S. Securities Act of 1933.

Notable Quotes

• “The successful completion of this financing provides us with the capital needed to advance our flagship Bend Project and further explore the highly prospective Penokean VMS Belt, positioning GreenLight Metals for continued growth in the critical metals sector.” – Matt Filgate, President & CEO.