Gladiator Metals closes $22.5-million private placement

Executive Summary

• Gladiator Metals Corp. closed an upsized bought‑deal private placement raising $22.5 million in total gross proceeds.
• The offering comprised 10,563,400 flow‑through (FT) shares at $1.42 each ($15.0 M) and 8,152,200 hard‑dollar (HD) shares at $0.92 each ($7.5 M).
• Proceeds will be used for eligible Canadian exploration expenses on Yukon projects (FT portion) and for working capital/general corporate purposes (HD portion).

Key Details

• Offering Structure:
• FT Shares – 10,563,400 common shares (flow‑through), price $1.42 per share, gross proceeds $15,000,028.
• HD Shares – 8,152,200 common shares, price $0.92 per share, gross proceeds $7,500,024.
• Total Gross Proceeds: $22,500,052.
• Underwriters: Cormark Securities Inc. (lead underwriter & sole bookrunner) with a syndicate including Beacon Securities Ltd., Canaccord Genuity Corp., and Velocity Trade Capital Ltd.
• Use of Proceeds – FT Shares:
• To incur eligible Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures for Yukon projects.
• Minimum qualifying expenditures equal to the gross FT proceeds must be incurred (or deemed incurred) by Dec 31, 2026 and renounced to purchasers no later than Dec 31, 2025.
• Use of Proceeds – HD Shares: Working capital and general corporate purposes.
• Commission & Finder Fees:
• Cash commission to underwriters: 6% of gross proceeds (reduced to 3% for sales to the president’s list).
• Arm’s‑length finder fee paid: $100,001.70.
• Regulatory Conditions: Offering remains subject to final approval by the TSX Venture Exchange; shares sold under NI 45‑106 listed issuer financing exemption, no hold period required for Canadian residents.
• Documentation: Amended and restated offering document available on SEDAR+ and company website (English & French).

Notable Quotes

(No CEO/President quotes were included in the release.)