Excalibur Metals Announces Upsize of Private Placement Financing

Executive Summary

• Excalibur Metals Corp. increased its non‑brokered private placement to up to 18 million units at $0.20 per unit, targeting gross proceeds of up to $3.6 million.
• Each unit consists of one common share and half a common share purchase warrant; full warrants allow purchase of additional shares at $0.30 for 24 months.
• Net proceeds will be allocated to exploration expenditures, working capital, investor relations, and general & administrative costs.

Key Details

• Offering Size: Up to 18,000,000 units (previously announced size increased).
• Unit Composition: 1 common share + ½ common share purchase warrant (full warrant = right to buy one additional share at $0.30).
• Price per Unit: $0.20 → Gross Proceeds: Up to $3,600,000.
• Warrant Terms: Exercise price $0.30; exercisable for 24 months from closing date.
• Hold Period: All securities subject to a four‑month hold period from issuance.
• Use of Net Proceeds: Exploration expenditures, working capital, investor relations, and general & administrative expenses.
• Finder’s Fees: Up to 7% cash and 7% non‑transferable finder warrants (exercisable at $0.30 for 24 months) payable on a portion of the offering per TSX Venture Exchange policies.
• Closing Timeline: Intended closure during March 2026, subject to TSX Venture Exchange approval.

Notable Quotes

• “The additional capital will support our ongoing exploration programs and strengthen our balance sheet as we advance the Bellehelen Project,” – John Gilbert, CEO.