XXIX Metal closes $6-million private placement

Executive Summary

• XXIX Metal Corp. closed a best‑effort private placement raising $6,001,160 in gross proceeds.
• The offering consisted of 24.8 M Ontario charity flow‑through (FT) units at C$0.121 and 22.73 M Quebec FT units at C$0.132 per unit.
• Proceeds will be used to fund eligible Canadian exploration expenses on the company’s Opemiska and Thierry copper projects, qualifying as flow‑through critical mineral mining expenditures.

Key Details

• Units Issued: 24.8 million Ontario FT units @ 12.1 cents each; 22.73 million Quebec FT units @ 13.2 cents each.
• Gross Proceeds: $6,001,160 (CAD equivalent).
• Unit Composition: Each unit = one common share + half of a common‑share purchase warrant.
• Warrant Terms: Right to acquire one non‑flow‑through common share at C$0.12 per share for 36 months from closing.
• Lead Agents: Beacon Securities Ltd. (lead agent & bookrunner) with syndicate members Canaccord Genuity Corp., SCP Resource Finance LP, Haywood Securities Inc.
• Regulatory Basis: Issued under NI 45‑106 Part 5A exemptions; no hold period required in Canada.
• Use of Proceeds: To incur eligible Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures for Ontario and Quebec properties, with renunciation to subscribers by Dec 31 2025 (eligible expenditures must be incurred by Dec 31 2026).
• Insider Participation: Insiders purchased 2,052,500 units; transaction deemed a related‑party transaction but exempt from valuation/minority approval thresholds under MI 61‑101.
• TSX Venture Exchange: Closing subject to final TSX V exchange approval.

Notable Quotes

(No direct quotes were provided in the release.)