Mogotes receives final TSX-V OK for $22.24M financing

Executive Summary

• Mogotes Metals received final TSX Venture Exchange approval for its non‑brokered private placement of 111.2 million units, generating aggregate gross proceeds of $22.24 M.
• An initial tranche of 18,689,666 units (≈$3.74 M) was released from escrow on Aug. 20 2025 to an entity affiliated with the Braun family.
• Aster Blue Ltd. acquired 45 million units (45 M common shares + 22.5 M warrants) for a subscription price of $9 M, giving it ~12 % ownership (≈17 % on a partially‑diluted basis if all warrants are exercised).

Key Details

• Private Placement Structure:
• Total units offered: 111.2 million
• Each unit = 1 common share + ½ warrant (full warrant exercisable at $0.40 per share, expires July 4 2027)
• Gross Proceeds: $22.24 M expected from the full placement.
• Escrow Release: $3,737,933.20 released on Aug. 20 2025 for 18,689,666 units.
• Aster Blue Acquisition:
• Units purchased: 45 million (45 M common shares + 22.5 M warrants)
• Subscription price paid: $9 M
• Post‑acquisition holdings: 45 M common shares (~11.99 % of outstanding shares) and 22.5 M warrants (potentially increasing to ~16.97 % on a partially diluted basis).
• Warrant Terms: Exercise price $0.40 per share; exercisable until July 4 2027.
• Purpose of Funds / Use of Proceeds: Not explicitly disclosed in the release (common for private placements to fund exploration, corporate working capital, and general corporate purposes).
• Regulatory Filings: Early warning report filed by Aster Blue under NI 62‑103 is available on Mogotes Metals’ SEDAR+ profile.

Notable Quotes

(No direct quotes were provided in the release.)