Magna Mining Announces Brokered LIFE Offering of Common Shares for Gross Proceeds of up to $45 Million

Core Viewpoint - Magna Mining Inc. has announced a private placement offering of up to 18,750,000 common shares at a price of $2.40 per share, aiming to raise up to $45 million to advance its properties and for general expenses [1][5]. Group 1: Offering Details - The offering will be conducted by Canaccord Genuity Corp. as the lead agent, with a syndicate including Desjardins Securities Inc. and SCP Resource Finance LP [1]. - An additional option allows the agents to sell up to 2,083,300 shares for up to $4,999,920 in gross proceeds [1]. - The offering is subject to conditions including regulatory approvals and is expected to close around September 19, 2025 [6]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to advance the company's existing properties in Sudbury, Ontario, and for general administrative expenses and working capital [5]. Group 3: Company Overview - Magna Mining Inc. operates in the Sudbury mining district of Ontario, Canada, focusing on copper, nickel, and platinum group metals [8]. - The company's primary asset is the McCreedy West Mine, which is currently in production, supported by other past-producing properties [8]. - The company aims to unlock long-term shareholder value through production, exploration, and development opportunities [9].