SLAM Announces Private Placement
SLAM seeks fresh capital as Goodwin copper-nickel results drive exploration shift.
On February 18, 2026, SLAM Exploration announced a non-brokered private placement to raise up to $1,170,000 CAD. The financing consists of two parts: - Up to 12,500,000 Flow-Through (FT) Units priced at $0.09, raising $1,125,000. Each unit includes one flow-through share and one-half of a warrant. - Up to 500,000 Non-Flow-Through (NFT) Units priced at $0.09, raising $45,000. Each unit includes one common share and one full warrant. - All warrants are exercisable at $0.13 for a period of 24 months. - Proceeds from the FT units will be used for Canadian exploration expenses on the Goodwin project in New Brunswick. NFT proceeds will go toward general working capital and corporate development.
The impact is Routine - Positive. While dilutive, this capital is essential for the company to maintain the momentum of its 2026 exploration season. - Funding Continuity: The company recently launched a $275,000 VTEM survey (announced Jan 23, 2026). This financing provides the necessary liquidity to follow up on geophysical targets and the high-grade intercepts discovered at Goodwin throughout late 2025. - Valuation Benchmarking: The $0.09 price point is a premium to the company's 2024 financing levels ($0.025 - $0.045) but represents a discount to the recent 52-week high of $0.15. This suggests a stabilization of value following significant drill results but indicates the market is not yet willing to fund at the peak. - Dilution: The potential issuance of 13 million new shares on a base of approximately 131 million represents roughly 10% dilution.
SLAM Exploration is a New Brunswick-focused explorer utilizing a "project generator" model. Its flagship project is the Goodwin Copper-Nickel-Cobalt Project in the Bathurst Mining Camp. - Goodwin Status: Consists of three main zones: Granges, Farquharson, and Logan. - Flagship Development: 2025 drilling confirmed significant widths of magmatic sulfides (e.g., hole GW25-19: 74.8m @ 0.96% Cu-Eq). The project has transitioned from historical validation to resource-definition stage exploration. - Secondary Projects: Jake Lee (Gold/Silver), Menneval (Gold), and Harry Brook (Gold/Antimony).