Metal Energy Announces $9.3 Million Financing; Centerra Gold to Become a Strategic Shareholder

Core Viewpoint - Metal Energy Corp. is set to raise up to C$9.3 million through a financing offering, with Centerra Gold expected to become a strategic shareholder owning approximately 9.9% of the company post-offering [1][5]. Financing Details - The financing will consist of approximately 8,880,000 common shares issued on a premium flow-through basis at C$0.73 per share and 6,200,000 common shares at C$0.45 per share [1]. - Proceeds from the offering will fund Metal Energy's 2026 maiden drill program at the NIV copper-gold-molybdenum project in British Columbia, which is fully permitted with drill-ready targets [2]. Tax and Regulatory Aspects - The flow-through shares will qualify under the Income Tax Act (Canada) for eligible resource exploration expenses, with the company committing to incur qualifying expenditures by December 31, 2026 [3]. - The closing of the offering is expected around December 16, 2025, pending regulatory approvals and customary closing conditions [4]. Strategic Investment - Centerra Gold's investment is seen as a significant endorsement of Metal Energy's NIV project, enhancing the company's technical capabilities and operational experience [6]. - This strategic partnership is viewed as a milestone for Metal Energy, allowing the company to focus on advancing drilling and pursuing discoveries [6]. Company Background - Metal Energy Corp. is focused on critical metals exploration, particularly copper and gold assets in Canada, with the NIV project being a key asset in its portfolio [10].