Cygnus intends to advance resource evaluation and technical studies following successful A$25m placement

Executive Summary

• Cygnus Metals secured firm commitments for a A$25 million share placement, issuing ~156.3 million ordinary shares at A$0.16 each (5.9% discount to last trade).
• Pro‑forma cash and liquid assets will rise to approximately A$35 million post‑placement.
• Net proceeds are earmarked for resource growth, conversion, exploration of multiple prospects (Joe Mann, Gwillim), permitting work, early mill infrastructure works, and general working capital at the Chibougamau Copper‑Gold Project.

Key Details

• Placement Size: ~156,250,000 fully paid ordinary shares
• Issue Price: A$0.16 per share (5.9% discount to last closing price of A$0.17; 15.2% discount to 15‑day VWAP of A$0.189)
• Gross Proceeds: A$25 million before costs
• Strategic Investor Participation: Ocean Partners, the company’s second‑largest shareholder pre‑raising, participated and endorsed the placement.
• Joint Lead Managers: Canaccord Genuity and Euroz Hartleys (fees = 5% of proceeds, less Chairman’s list)
• Use of Funds:
• Resource growth & conversion at Chibougamau
• Exploration of Joe Mann, Gwillim, and other prospects
• Ongoing permitting activities
• Completion of updated economic study (post‑PEA)
• Early works on milling infrastructure
• General working capital and placement‑related costs
• Pro‑forma Liquidity: Approx. A$35 million cash & liquid assets after the raise (pre‑costs).
• Settlement Timeline: Trading halt lifted 13 Mar 2026; settlement expected 19 Mar 2026; quotation of shares on 20 Mar 2026 (subject to change).
• Quote – Executive Chair David Southam: “We delivered on our strategy at Chibougamau in our first year of ownership… This new round of funding is designed to grow our resources further, upgrade more resources into high confidence categories and aggressively drill some recently identified high‑grade gold‑copper targets.”

Notable Quotes

• David Southam, Executive Chair: “With three rigs now operating and production studies progressing, we have several avenues for driving rapid shareholder value.”