Miata Metals Closes Upsized Private Placement of $5.5 million
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, British Columbia, Aug. 21, 2025 (GLOBE NEWSWIRE) — Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB: MMETF) (“Miata” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement offering (the “Offering”) by issuing 23,913,044 units at a price of $0.23 per unit (each a “Unit”) for total gross proceeds of $5,500,000 (the “Offering”).
Each Unit consists of one common share in the capital of the Company and one-half of one transferrable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share at an exercise price of $0.40 until August 21, 2027. The Warrants will be restricted from exercise until October 21, 2025, being the 61st day following the closing of the Offering.
The Units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”). Pursuant to NI 45-106, the securities forming part of the Units issued to Canadian residents under the Offering are not to be subject to resale restrictions. The Company is relying on the exemptions in Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Order”) and is qualified to distribute securities in reliance on the exemptions included in the Order.
The Company intends to use the proceeds from the Offering for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, and for general working capital and corporate purposes.
In connection with the Offering, the Company paid aggregate cash finder’s fees of $165,004, and issued an aggregate of 771,410 finder’s warrants (the “Finder’s Warrants”) to eligible arm’s length finders. The Finder’s warrants are exercisable into common shares at an exercise price of $0.40 until August 21, 2027. The Finder’s Warrants are subject to a statutory four month hold from the date of issuance.
Two directors and an officer of the Company participated in the Offering for aggregate proceeds of $121,002 and are considered to be “related parties” of the Company. Each subscription by a “related party” of the Company is considered to be a “related party transaction” for purposes of MI 61-101. The Company is relying on the exemptions from the formal valuation requirements contained in section 5.5(a) of MI 61-101 and the minority shareholder approval requirements contained in section 5.7(1)(a) of MI 61-101 as the fair market value of the related parties’ participation is not more than 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transactions at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner.
About Miata Metals Corp.
Miata Metals Corp. (CSE: MMET) is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQB (OTCQB: MMETF) and Frankfurt (FSE: 8NQ) Exchanges. The Company is focused on the acquisition, exploration, and development of mineral properties. The Company holds a 70% interest in the ~215km2 Sela Creek Gold Project with an option to acquire a full 100% interest in the project, and a 70% beneficial interest in the Nassau Gold Project in Suriname with an option to acquire 100%. Both exploration properties are located in the greenstone belt of Suriname.
On Behalf of the Board
Dr. Jacob (Jaap) Verbaas, P.Geo | CEO and Director
info@miatametals.com
+1 778 488 9754
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to the use of proceeds of the Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipates”, “anticipated” “expected” “intends” “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of Miata securities in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and Miata securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Miata securities, nor shall there be any offer or sale of Miata securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
