Prismo Metals Announces Closing of Private Placement

Core Viewpoint - Prismo Metals Inc. has successfully completed an upsized closing of its non-brokered private placement, raising a total of $2,204,000 through the issuance of 22,040,000 units, with plans to fund a drilling program at the Silver King project [1][2]. Group 1: Private Placement Details - The recent closing involved the issuance of 2,940,000 units at an issue price of $0.10 per unit, generating gross proceeds of $294,000 [1]. - The company had previously announced two closings of the private placement, raising $1,745,000 on November 12, 2025, and $165,000 on December 2, 2025 [2]. - Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.175 for 36 months [3]. Group 2: Use of Proceeds - The net proceeds from the private placement will primarily be allocated for drilling at the Silver King project and for general corporate purposes [4]. - The company anticipates accepting additional subscriptions of approximately $75,000 from new shareholders in the coming days [4]. Group 3: Finder's Warrants and Commissions - In connection with the closing, the company issued 185,200 finder's warrants and paid finder's commissions totaling $18,520 [6]. - Each finder's warrant is exercisable for 24 months at a price of $0.10 [6]. Group 4: Company Overview - Prismo Metals Inc. is focused on advancing its Silver King, Ripsey, and Hot Breccia projects in Arizona, as well as its Palos Verdes silver project in Mexico [8].