Miata Metals increases financings

Miata Metals Corp. has increased the size of its previously announced bought deal public offering and concurrent strategic investment by La Mancha Resource Fund. The total aggregate gross proceeds are now approximately C$23.28 million.

The bought deal offering was raised from $7.5 million to $10 million, with underwriters purchasing 24,391,000 shares at 41 cents per share, including a 15% overallotment option. La Mancha Resource Fund has upsized its strategic investment to maintain a 19.9% pro forma ownership stake, purchasing 32,390,229 shares at 41 cents per share for approximately $13.28 million.

La Mancha agreed to a two-year standstill, which prohibits the acquisition of more than 25% of outstanding shares, and an 18-month lockup on the shares issued. Shares are also subject to a statutory four-month hold period.

Proceeds will fund exploration and drilling at the Sela Creek gold project, support technical studies and project development, and cover general corporate and working capital purposes. Closing is expected on or about August 18, 2026.

Miata Metals Corp. (MMET) completed a direct upsizing of its July 28, 2026 announcement, confirming strong institutional and strategic demand at the $0.41 price level. The transaction includes the addition of La Mancha as a 19.9% strategic shareholder, a move that provides validation of the Sela Creek project's geology and management team. La Mancha’s technical and mine-development expertise complements Miata's exploration strategy.

The financing provides approximately $23.3 million in fresh capital, effectively doubling the company's cash position, which stood at approximately $9.07 million as of March 31, 2026. These funds will fully finance the remainder of the 25,000-metre 2026 drill program and associated technical studies. As a follow-up to a previously announced transaction, the market impact is incremental. The deal removes the near-term financing overhang and extends the cash runway, but does not introduce fundamentally new project data or valuation drivers.

Miata Metals Corp. is an exploration-stage gold company focused on the Sela Creek Gold Project in Suriname, located in the underexplored Guyana Shield. The flagship Sela Creek project covers 215 square kilometers and hosts multiple emerging discoveries, including the Jons Trend, Big Berg, and Puma East targets.

Drilling has consistently demonstrated broad, high-grade, structurally controlled gold mineralization. Recent results include: - 30.0 m at 4.06 g/t Au at Jons Trend - 96 m at 1.41 g/t Au at Big Berg - 17.19 m at 3.14 g/t Au at Puma East

The company is executing a fully funded 25,000-metre diamond drilling program in 2026 to expand known mineralization and test new targets. The company also holds a 70% interest in the Nassau project, subject to option milestones and concession renewals.