Miata Metals Announces Filing of Final Short Form Prospectus - Accessible on SEDAR+
Miata filed its final prospectus for a C$23.3 million bought deal and a strategic stake in La Mancha.
Miata Metals Corp. has filed a final short form prospectus for a bought deal public offering of 24,391,000 common shares at C$0.41 per share, raising approximately C$10 million. The offering includes a 15% over-allotment option, which could potentially increase gross proceeds to C$11.5 million.
Concurrently, La Mancha Resource Fund SCSp is making a strategic investment of approximately C$13.28 million for 32,390,229 shares at C$0.41 per share, resulting in a pro forma 19.9% ownership stake. Total aggregate gross proceeds are expected to be approximately C$23.3 million.
Closing is expected on or about August 18, 2026, conditional on regulatory approvals and TSXV acceptance. The company will also issue 354,457 shares to Selakriki Oksanisi Resources N.V. for the Sela Creek property option anniversary payment at a deemed price of C$0.59 per share.
Miata Metals Corp. (MMET) filed a final prospectus on July 28 and July 29, serving as an administrative follow-up to its previously announced upsized financing. The market was already aware of the strategic investment from La Mancha and the terms of the bought deal, with the final prospectus confirming the execution of the previously disclosed transaction.
The financing provides substantial capital to fund the 25,000-metre 2026 drill program and general corporate purposes, mitigating near-term going concern risks highlighted in the March 2026 MD&A. Dilution is significant, with approximately 56.8 million new shares issued (including over-allotment), representing a ~35% increase in the share count. However, the strategic investment from La Mancha at the same price point provides a valuation floor and validates the company's exploration progress.
The Sela Creek option share issuance at C$0.59 is above the financing price, indicating a premium for the option milestone, but is a standard contractual obligation.
Miata Metals Corp. (MMET) is an exploration-stage gold company focused on the Sela Creek Gold Project in Suriname, located on the Guyana Shield. The project covers approximately 215 km² and hosts multiple emerging discoveries, including Jons Trend, Big Berg, and Puma East.
Drilling has confirmed a district-scale, structurally controlled gold system with high-grade intercepts, including:
- 30 m at 4.06 g/t Au at Jons Trend
- 17.19 m at 3.14 g/t Au at Puma East
The company holds a 70% interest in Sela Creek with an option to acquire 100%, subject to milestone payments and work commitments. A 2% NSR applies, with buyback options available. Miata Metals also holds a 70% interest in the Nassau project, with concessions pending renewal.