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SAGA Metals Announces Warrant Expiry Acceleration—Reports Over $675,000 of Warrant Money Exercised and Received since January 1, 2026
Globenewswire· 2026-01-22 23:21
Core Viewpoint - SAGA Metals Corp. is accelerating the expiry of outstanding common share purchase warrants, which is expected to generate approximately $3.6 million in additional funding, enhancing the company's financial position and supporting its exploration strategy in 2026 [3][4]. Financing Details - The company issued a total of 6,637,667 warrants and 163,146 finder's warrants in the May Financing, and 555,750 finder's warrants in the October Financing, totaling 7,356,467 warrants [2]. - The acceleration of the warrants' expiry is triggered by the company's common shares closing at or above C$0.75 for 10 consecutive trading days, allowing the expiry date to be set to February 21, 2026 [3]. Financial Position - The company raised $9 million in Q4 2025 and has generated over $675,000 from warrant exercises since the beginning of 2026, positioning it in the strongest financial position in its history [3]. - The influx of funds from the accelerated warrant exercises will bolster the company's treasury and support its strategic initiatives [3]. Project Overview - The Radar Critical Mineral Property spans 24,175 hectares and hosts the Dykes River intrusive complex, with confirmed oxide layering across more than 20 km [5][6]. - The project is positioned as a potential strategic supplier of titanium, vanadium, and iron to North American markets, comparable to global Fe–Ti–V systems [6]. Exploration Plans - The 2026 drill program will focus on the southern section of the Trapper Zone, targeting approximately 30 holes (7,500 m) [8]. - Drilling will commence at the southeastern extent of Trapper South and will progress towards Trapper North, aiming to complete the remainder of the MRE drill campaign by spring [8]. Mineralization Results - Confirmed mineralization in 15 out of 15 drill holes, with significant oxide-rich intercepts reported, including grades of up to 50.67% Fe₂O₃, 10.15% TiO₂, and 0.339% V₂O₅ [10]. - The project has demonstrated exceptional grades and thicknesses, with semi-massive to massive oxide reporting up to 64.55% Fe, 13.3% TiO₂, and 0.66% V₂O₅ [10]. Company Background - SAGA Metals Corp. is focused on the exploration and discovery of critical minerals essential for North American supply security, with a portfolio that includes the Radar Ti-V-Fe Project and the Double Mer Uranium Project [12][13]. - The company is strategically positioned to play a significant role in critical mineral security, with properties covering a total of 65,849 hectares [16].