Jaguar Mining Inc. Announces C$10 Million Participation from Eric Sprott in Previously Announced C$25 Million Bought Deal Private Placement

Executive Summary

• Jaguar Mining announced an updated “bought‑deal” private placement raising approximately C$38 million in gross proceeds.
• Existing major shareholder Eric Sprott will subscribe for 1,818,812 shares at C$5.50 each (≈C$10 M); underwriters will purchase 4,545,455 shares for C$25 M with an option for up to 545,455 additional shares (≈C$3 M).
• Net proceeds are earmarked to restart the Turmalina Mine, fund exploration across its Brazilian portfolio, and support general working capital.

Key Details

• Subscription by Eric Sprott: 1,818,812 Offered Shares @ C$5.50 per share → gross proceeds ≈ C$10.0 M.
• Underwriter Commitment (Red Cloud & syndicate): Purchase of 4,545,455 Offered Shares → gross proceeds C$25,000,002.50.
• Underwriters’ Option: Up to 545,455 additional Offered Shares exercisable ≤48 h before Closing → potential gross proceeds up to C$3,000,002.50 at the same price.
• Offering Price: C$5.50 per Offered Share for all components.
• Use of Proceeds:
• Restart Turmalina Mine (MTL Complex).
• Exploration activities on Jaguar’s Brazilian properties.
• General working capital and corporate purposes.
• Closing Date: Expected October 15, 2025, subject to customary conditions and TSX/Regulatory approvals.
• Hold Period for Sprott Shares: Four months and one day after Closing (not covered by LIFE exemption).
• Exemptions:
• Shares sold to non‑Canadian investors via the “listed issuer financing” exemption (LIFE).
• Shares sold under LIFE are expected to be immediately freely tradeable.
• Related Party Transaction: Sprott subscription qualifies as a related‑party transaction under MI 61‑101; anticipated exemption from valuation/minority approval thresholds (<25% market cap).
• Regulatory Notes: No U.S. registration; securities not offered or sold in the United States absent applicable exemptions.

Notable Quotes

• Luis Albano Tondo, CEO: “This financing underscores Jaguar’s commitment to unlocking the full potential of its Brazilian assets and reinforcing our standing as a responsible and growing gold producer in the region.”