PMET Announces Up To Aggregate C$130 Million Financings to Advance Shaakichiuwaanaan - Through a Flow-Through Private Placement and a Public Offering of Common Shares

The most recent release (February 9, 2026) announces an aggregate financing of up to C$130 million. The structure includes a C$65 million public offering of common shares at C$5.66 and a C$65 million charity flow-through private placement at C$9.30 per share. Notably, strategic partner Volkswagen Finance Luxemburg S.A. intends to participate by maintaining its pro-rata interest, contributing approximately C$14 million. The funds are earmarked for the critical path toward a Final Investment Decision (FID) by December 31, 2027, specifically covering detailed engineering, an optimized Feasibility Study (FS) for CV5 to include tantalum, and a Preliminary Economic Assessment (PEA) for CV13 focused on lithium, caesium, and tantalum.

This news has a material positive impact on PMET's path to production. - De-risking the FID: Securing C$130M provides the necessary runway to complete the heavy engineering and permitting required for a late-2027 FID without immediate further dilution. - Strategic Validation: The continued participation of Volkswagen reinforces the project's strategic importance to the North American EV supply chain and provides institutional confidence. - Multi-Commodity Upside: By funding the assessment of tantalum and caesium co-products, PMET is moving away from a "lithium-only" economic model. Given that CV13 hosts the world’s largest pollucite-hosted caesium resource, integrating these high-value metals could significantly enhance the project's Internal Rate of Return (IRR) and Net Present Value (NPV), which were previously calculated on lithium alone. - Financing Premium: Raising C$65M at C$9.30 via flow-through is a massive 47% premium to the market price, significantly minimizing the dilution to existing shareholders.

PMET Resources owns 100% of the Shaakichiuwaanaan Project in the James Bay region of Quebec. It is the largest hard-rock lithium resource in the Americas. - CV5 Pegmatite: Flagship deposit with 80.1 Mt Indicated and 62.5 Mt Inferred resources. - CV13 Pegmatite: Contains the Rigel and Vega zones, hosting the world's largest known pollucite-hosted caesium mineral resource. - Infrastructure: Proximity to the Trans-Taiga road and regional hydroelectric power lines provides a significant operational advantage over peer projects in remote regions.