Jaguar financing to get $10M subscription from Sprott

Executive Summary

• Jaguar Mining Inc. announced that major shareholder Eric Sprott will subscribe for 1,818,812 shares at C$5.50 each, providing approximately C$10 million of the total C$25 million bought‑deal private placement.
• The underwriters, led by Red Cloud Securities Inc., have committed to purchase 4,545,455 shares for gross proceeds of C$25 million, with an option to buy an additional 545,455 shares for up to C$3 million.
• Net proceeds are earmarked to restart the Turmalina mine, fund exploration across Jaguar’s Brazilian assets, and support general working capital and corporate purposes.

Key Details

• Subscription by Eric Sprott: 1,818,812 offered shares @ C$5.50 per share → gross proceeds ≈ C$10 million. Shares subject to a hold period of 4 months + 1 day after closing.
• Underwriter Commitment: Red Cloud Securities Inc. (lead underwriter/sole bookrunner) and syndicate will purchase 4,545,455 offered shares → gross proceeds C$25,000,002.50.
• Underwriters’ Option: Up to 48 hours before the closing date, they may purchase an additional 545,455 shares at the offering price → up to C$3,000,002.50 in extra gross proceeds.
• Use of Proceeds:
• Restart Turmalina mine (MTL complex)
• Exploration activities on all Jaguar properties (Iron Quadrangle)
• General working capital and corporate purposes
• Closing Date: Expected on or about October 15, 2025, subject to customary conditions and TSX/regulatory approvals.
• Regulatory Treatment: Shares sold to non‑Canadian residents will be under the Listed Issuer Financing Exemption (LIFE); LIFE shares will be freely tradeable immediately after issuance.
• Related Party Transaction: Sprott’s subscription is a related‑party transaction under MI 61‑101; expected exemption from valuation and minority‑shareholder approval because consideration < 25 % of market cap. No new insiders or control persons created.
• Offering Documentation: Amended and restated offering document available on SEDAR+ and Jaguar’s website; investors urged to review before investing.

Notable Quotes

(No direct quotes were provided in the release.)