PTX Metals Inc. Announces First Closing of Private Placement

Core Points - PTX Metals Inc. has successfully closed the first tranche of its non-brokered private placement, raising a total of $3,252,716.70 through the issuance of various units [1][4][5] Group 1: Financial Details - The first tranche included the issuance of 5,333,333 charity flow-through units at $0.15 each, generating $800,000 in gross proceeds [1] - Additionally, 21,527,167 hard dollar units were issued for gross proceeds of $2,152,716.70, and 2,222,222 flow-through units were issued at $0.135 each, raising $300,000 [1] - The company paid $121,461.50 in finders fees and issued 1,160,170 finder warrants, allowing the purchase of common shares at $0.14 for two years [2] Group 2: Use of Proceeds - Proceeds from the hard dollar units will be allocated for general corporate expenses and working capital [4] - Gross proceeds from the charity flow-through units will be used for eligible Canadian exploration expenses related to the company's projects in Ontario, with expenditures to be incurred by December 31, 2026 [5] Group 3: Offering Structure - Each unit consists of one common share and one-half share purchase warrant, with warrants exercisable at $0.16 for 36 months [3] - The offering is conducted under the Listed Issuer Financing Exemption, allowing units to be issued without a hold period under Canadian securities laws [6] Group 4: Company Overview - PTX Metals Inc. focuses on high-quality strategic metals assets in northern Ontario, including copper, gold, nickel, and PGEs [8] - The company aims to advance its flagship projects, the W2 Cu-Ni-PGE and the Shining Tree Gold Project, located in mineral-rich regions [9][10]