PTX Metals Inc. Announces Second Closing of Private Placement

Executive Summary

• PTX Metals Inc. completed the second tranche of its non‑brokered private placement, raising $1,246,213 in this closing and $4,498,930 total to date.
• The offering consisted of 7,023,805 flow‑through units at $0.135 each and 2,920,000 hard‑dollar units at $0.102 per unit (aggregate $298,000).
• Proceeds will be used for general corporate purposes (hard‑dollar units) and eligible Canadian exploration expenses on Ontario projects (flow‑through units), with tax‑qualified renunciation commitments.

Key Details

• Units Issued – Flow‑Through (FT): 7,023,805 FT Units @ $0.135 per unit → Gross proceeds: $948,213.68
• Units Issued – Hard Dollar (HD): 2,920,000 HD Units → Gross proceeds: $298,000
• Total Proceeds – Second Closing: $1,246,213
• Cumulative Proceeds to Date: $4,498,930 (including $3,252,716.70 from first closing)
• Finder Compensation: $25,779.08 paid in finder fees; 192,771 Finder Warrants issued (exercise price $0.14, two‑year term, 4‑month statutory hold).
• Unit Composition: Each FT and HD Unit includes one common share + ½ share purchase warrant; each warrant exercisable for one additional share at $0.16 for 36 months.
• Exemptions & Hold Periods:
• HD Units issued under the Listed Issuer Financing Exemption (no hold period).
• FT Units subject to a four‑month + one‑day hold period; associated warrants have a 61‑day exercise restriction.
• Use of Proceeds – HD Units: General corporate expenses and working capital.
• Use of Proceeds – FT Units: Eligible Canadian exploration expenditures (flow‑through critical mineral mining) on Ontario projects, to be incurred by Dec 31 2026 and renounced by Dec 31 2025 in an amount ≥ gross proceeds.
• Offering Documentation: Amended & restated offering document filed under Form 45‑106F19 available on SEDAR+ and company website.

Notable Quotes

(No direct quotes were provided in the release.)