Giga Metals Completes Final Tranche of Upsized Private Placement

Core Viewpoint - Giga Metals Corp. has successfully completed a private placement to fund exploration activities at the Turnagain Project, focusing on underexplored areas with potential for copper and PGE mineralization [1][3]. Group 1: Private Placement Details - The company closed 3,904,109 Non-Flow-Through Units at $0.11 each for gross proceeds of $429,451 and 8,637,693 Flow-Through Units at $0.13 each for gross proceeds of $1,122,900 [2]. - Each unit consists of one share and one share purchase warrant, with full warrants exercisable at Cdn. $0.25 for three years, expiring on October 29, 2028, and November 6, 2028, respectively [2]. - Finder's fees amounted to $106,424 in cash and 857,563 finder's warrants, each exercisable into one common share at $0.13 for three years [3]. Group 2: Use of Proceeds - Proceeds from the private placement will be allocated for general corporate purposes and the company's exploration program [4]. Group 3: Debt Settlement - The company is settling approximately $63,250 in debt through the issuance of common shares at a deemed price of $0.10 per share, with $25,000 owed to a former officer for management services [5]. Group 4: Company Overview - Giga Metals Corporation's core asset is the Turnagain Project in northern British Columbia, which contains significant undeveloped sulphide nickel and cobalt resources [6]. - The Turnagain ultramafic complex is also prospective for copper, platinum, and palladium mineralization in the Attic Zone, adjacent to the known nickel resource [7].