Giga Metals Completes First Tranche of Private Placement of Critical Minerals Flow-Through and Non-Flow-Through Units

Core Viewpoint - Giga Metals Corp. has successfully closed the first tranche of its private placement, raising a total of $1,525,000 to support its Turnagain nickel-cobalt project and general corporate purposes [1][4]. Group 1: Private Placement Details - The first tranche included 8,637,693 Critical Mineral Flow-Through (FT) units priced at $0.13 each, generating gross proceeds of $1,122,900, and 3,404,109 Non-Flow-Through (NFT) units priced at $0.11 each, generating gross proceeds of $374,452 [2]. - Each FT unit consists of one flow-through share and a non-transferable share purchase warrant, allowing the holder to acquire an additional share at $0.25 for 36 months [3]. - Each NFT unit includes one non-flow-through share and a non-transferable share purchase warrant with the same terms as the FT units [3]. Group 2: Use of Proceeds - The gross proceeds from the private placement will be allocated to exploration activities for the Turnagain project and other potential Canadian properties, with a commitment to incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures [4]. Group 3: Finder's Fees and Future Plans - Finder's fees amounted to $102,574 in cash and 822,563 finder's warrants, each exercisable into one common share at $0.13 for three years [5]. - A second tranche of the private placement is expected to close around November 5, 2025, pending necessary regulatory approvals [6]. Group 4: Company Overview - Giga Metals Corporation's primary asset is the Turnagain Project in northern British Columbia, which is recognized for its significant undeveloped sulphide nickel and cobalt resources [7]. - The Turnagain complex also shows potential for copper, platinum, and palladium mineralization in the Attic Zone, adjacent to the known nickel resource [8].