PTX Metals closes second tranche of financing

Executive Summary

• PTX Metals Inc. completed the second closing of its non‑brokered private placement, raising $1,246,213 and bringing total proceeds to $4,498,930.
• The closing issued 7,023,805 flow‑through (FT) units at C$0.135 per unit and 2.92 million hard‑dollar (HD) units at a combined gross of $1.246 M.
• Proceeds will fund general corporate/working capital needs (HD units) and eligible Canadian exploration expenses for Ontario projects (FT units).

Key Details

• Units Issued – Flow‑Through: 7,023,805 FT units @ C$0.135 each → gross proceeds $948,213.68.
• Units Issued – Hard‑Dollar: 2,920,000 HD units → gross proceeds $298,000.
• Total Proceeds (Second Closing): $1,246,213; cumulative to date $4,498,930 (including first closing of $3,252,716.70).
• Finder Compensation: $25,779.08 paid in finder fees; 192,771 finder’s warrants issued (exercise price C$0.14, two‑year term, subject to four‑month hold period).
• Unit Structure: Each FT and HD unit = 1 common share + ½ share purchase warrant.
• Warrant Terms: Exercise price C$0.16 per share; exercisable for 36 months from issuance. LIFE‑issued warrants have a 61‑day restriction before exercise.
• 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 31 Dec 2026 and renounced to purchasers by 31 Dec 2025 for an amount ≥ gross proceeds from FT units.
• Regulatory Filings: Amended & restated offering document filed on SEDAR+ (Form 45‑106F19) available via the company’s profile and website.

Notable Quotes

(No direct quotes were provided in the release.)