Core Points - Integral Metals Corp. has increased its non-brokered flow-through private placement offering from gross proceeds of up to C$1,000,000 to C$1,500,000 [1] - Each flow-through unit is priced at C$0.95 and consists of one flow-through common share and one common share purchase warrant, with the warrant allowing the purchase of a common share at C$1.00 for 24 months [1] - The proceeds from the sale of the flow-through shares are intended for Canadian exploration expenses, which will be renounced to the initial purchasers [2] - The offering is subject to a statutory hold period of four months and one day and is expected to close around November 15, 2025, pending regulatory approvals [3] Company Overview - Integral Metals Corp. is engaged in mineral exploration for critical minerals such as gallium, germanium, and rare earth elements, aiming to develop a domestic supply chain for these minerals [5] - The company holds properties in mining-friendly jurisdictions in Canada and the USA, including the Northwest Territories, Manitoba, and Montana, where it has received regulatory support for exploration efforts [5]

Core Viewpoint - Seabridge Gold Inc. successfully appealed the Canada Revenue Agency's disallowance of $15.8 million in exploration expenditures under the BC Mining Exploration Tax Credit program, with the British Columbia Supreme Court ruling that these expenses qualify under the program [2][3]. Group 1: Court Decision and Financial Implications - The British Columbia Supreme Court allowed Seabridge's appeal, validating that expenses aiding in determining the economic viability of a mineral resource qualify under the BC METC program [2][3]. - The court's decision indicates that approximately $3.1 million in refunds (plus interest) under the BC METC program are at stake, and Seabridge was awarded costs for its successful appeal [2][3]. - The ruling also has implications for Seabridge's previous flow-through share financings from 2013-2015, where the CRA had reduced claimed expenditures by approximately $19.1 million [4]. Group 2: Definition of Qualified Expenses - The court focused on the definition of "qualified mining exploration expenses" under the BC METC program, concluding that expenses related to determining the economic viability of a mineral resource meet the purpose test [3]. - Qualified expenses included open pit and block cave mine plans, engineering investigations, infrastructure design, and metallurgical testing, while only report compilation expenses were disallowed [3]. Group 3: Company Statements and Future Actions - The Chairman and CEO expressed satisfaction with the court's decision, indicating it validates the company's approach to claiming expenses and may lead to the return of funds [5]. - The company plans to consult with legal counsel to resolve the reassessment of flow-through share expenditures based on the court's reasoning [4][5]. - Seabridge holds a 100% interest in several North American gold projects, including the KSM and Iskut projects located in British Columbia [5].