Miata Metals Announces 19.9% Strategic Investment by La Mancha and Bought Deal Financing for Total Proceeds of C$20M

Miata Metals Corp. announced a combined financing package with gross proceeds of approximately C$20.16 million. The transaction includes a C$12.66 million strategic investment from La Mancha Resource Fund, which involves the issuance of 30.875 million shares at $0.41 each, resulting in an approximate 19.9% ownership stake. La Mancha’s shares are subject to an 18-month lock-up and a two-year standstill agreement limiting its ownership to no more than 25%. Additionally, La Mancha has secured the right to nominate one director and participate in future financings to maintain its relative stake.

The second component of the financing is a $7.5 million bought-deal public offering, comprising 18.293 million shares at $0.41 per share, accompanied by a 15% over-allotment option. Proceeds from the financing will be allocated toward ongoing exploration and drilling at the Sela Creek gold project, technical studies, and general working capital. The transaction is expected to close on or about August 18, 2026.

Miata Metals Corp. (MMET) has secured a strategic investment from La Mancha Resource Fund, a gold mining sector investor backed by the Sawiris family’s resources. The transaction, priced at C$0.41 per share, represents a modest discount of approximately 10% to the pre-announcement trading price, a level that indicates strong institutional demand rather than a distressed raise.

The capital injection brings total pro-forma cash to exceed C$28 million, combining C$9 million held as of March 31 with the approximately C$20 million raised. This liquidity fully funds the company’s 25,000-metre drill program for all of 2026 and extends into 2027. The financing eliminates the near-term financing overhang that had previously weighed on the stock, including concerns regarding a going concern noted in the company’s MD&A.

The agreement includes board rights and a standstill provision, creating alignment between the parties without imposing immediate takeover pressure. While the deal results in a significant dilution of approximately 50% in shares outstanding on a non-diluted basis, the capital injection and strategic partnership are intended to de-risk the project’s advancement and attract further institutional interest. Prior drill results have demonstrated the district-scale potential of the Sela Creek project, with this financing converting that potential into a well-funded exploration story.

Miata Metals Corp. is a Canadian junior gold explorer focused on the Sela Creek Gold Project in Suriname, a 215 km² concession in the under-explored Guyana Shield. The company holds a 70% interest with an option to acquire 100%. Sela Creek hosts multiple emerging gold discoveries – Jons Trend, Big Berg, Puma East, Puma West, and Golden Hand – all associated with major shear systems (Central Guyana Shear Zone).

The 2025 drill program (10,061 m) delivered a 100% hit rate and high-grade intercepts (e.g., 35.6 m at 3.04 g/t Au). In 2026, Miata commenced a fully funded 25,000 m diamond drilling campaign targeting expansion and new discoveries. The project is at an early stage with no resource estimate yet, but ongoing results reveal district-scale potential with bulk-tonnage and high-grade styles. Miata also holds the Nassau project (pending license renewals).