Prismo Metals Announces Closing of Private Placement

Executive Summary

• Prismo Metals completed an upsized closing of its non‑brokered private placement, issuing 2 million Units at $0.10 per Unit for gross proceeds of $200,000.
• Each Unit includes one common share and one warrant (exercise price $0.175, 36‑month term); the company also issued 120,000 finder’s warrants and paid $12,000 in finder commissions plus a $3,000 advisory fee.
• Net proceeds are earmarked primarily for a fully funded drill program at the historic Silver King mine site (minimum ~1,000 m), with any reallocation subject to business needs.

Key Details

• Closing Size: 2,000,000 Units issued; gross proceeds $200,000 at $0.10 per Unit.
• Unit Composition: 1 common share + 1 common share purchase warrant per Unit.
• Warrant Terms (Units): Exercise price $0.175; exercisable for 36 months from issuance.
• Use of Proceeds: Primarily to fund drilling at Silver King project; remaining for general corporate purposes, with possible reallocation as needed.
• Hold Period: Units subject to a four‑month hold period under Canadian securities laws.
• Finder’s Warrants: 120,000 warrants issued; each exercisable for 24 months at $0.10 per share.
• Finder Compensation: $12,000 paid in cash commissions to qualified finder.
• Advisor Fee: $3,000 cash fee paid to financial advisor.
• Regulatory Notice: Securities not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption.

Notable Quotes

“Every subscriber in this last closing is either a new shareholder of Prismo or a subscriber who became a shareholder of Prismo through our 2025 private placement and decided to increase their holdings in our Company,” – Alain Lambert, CEO

Materiality Assessment: Non‑Material – Positive (the financing amount is modest relative to typical market thresholds, but it supports an upcoming drilling program.)