Giga Metals arranges $1-million private placement

Executive Summary

• Giga Metals Corp. announced a non‑brokered private placement of up to $1 million consisting of critical‑mineral flow‑through (FT) units at C$0.13 per unit and non‑flow‑through (NFT) units at C$0.11 per unit.
• Each FT unit includes one flow‑through share plus a half‑share purchase warrant exercisable at C$0.25 for 36 months; NFT units have similar structure without the flow‑through tax benefit.
• Proceeds will be used to fund exploration of the Turnagain nickel‑cobalt project, other Canadian properties, and general corporate purposes, with FT proceeds earmarked for eligible Canadian exploration expenses.

Key Details

• Placement Size: Up to C$1 million gross proceeds.
• Pricing:
• Critical‑mineral FT units – C$0.13 per unit.
• Non‑flow‑through NFT units – C$0.11 per unit.
• Unit Composition:
• FT unit = 1 flow‑through share + transferable half‑share purchase warrant (full warrant allows purchase of an additional share at C$0.25 for 36 months).
• NFT unit = 1 non‑flow‑through share + transferable half‑share purchase warrant (same exercise terms as FT warrants).
• Warrant Terms: Exercise price C$0.25 per share; exercisable for 36 months from issuance.
• Use of Proceeds:
• Exploration of the Turnagain nickel‑cobalt project.
• Potential acquisition and exploration of additional Canadian properties.
• Working capital and general corporate purposes.
• Flow‑Through Allocation: Amount received from FT units will be spent on eligible Canadian exploration expenses to qualify as flow‑through mining expenditures under the Income Tax Act.
• Closing Conditions: Subject to TSX Venture Exchange approval and other customary closing conditions.
• Finder’s Fees: May be paid in cash or securities, subject to TSX‑V approval.
• Holding Period: Securities issued will be subject to a four‑month hold period per applicable securities laws.

Notable Quotes

(No CEO/President quotes were provided in the release.)