Hercules Metals Closes C$17 Million Financing

Core Viewpoint - Hercules Metals Corp. has successfully closed a brokered private placement, raising C$17,251,150 through the sale of 24,644,500 common shares at C$0.70 per share, with the offering fully subscribed and the Agents' option exercised in full [1] Group 1: Offering Details - The private placement was conducted under the Listed Issuer Financing Exemption, allowing sales in Canada (excluding Quebec) and the U.S. without a statutory hold period [2] - The Agents received a cash commission of 6.0% on gross proceeds, with a reduced commission of 3.0% for certain purchasers on a "president's list" [3] Group 2: Related Party Transaction - A director of the Company participated in the Offering, purchasing 71,400 shares for C$49,980, which is classified as a related party transaction but is exempt from formal valuation and minority shareholder approval requirements [4] Group 3: Use of Proceeds - The net proceeds from the Offering will be utilized for exploration and development of the Hercules property in Idaho and for general working capital purposes [5] Group 4: Company Overview - Hercules Metals Corp. is focused on developing a new porphyry copper district in Idaho, with its 100% owned Hercules Property hosting the newly discovered Leviathan porphyry copper system [8][9] - The Company aims for growth through continued drilling and has received strategic investment support from Barrick Mining Corporation [9][10]