Workflow
Hard dollar common share units
icon
Search documents
SAGA Metals Announces Closing of Fully Subscribed Non-Brokered Private Placement and Provides Corporate Update
Globenewswireยท 2025-10-11 02:46
Core Viewpoint - SAGA Metals Corp. has successfully closed a non-brokered private placement, raising gross proceeds of C$2,988,024.64 to support its exploration activities in critical minerals [1][2]. Financing Overview - The offering included the issuance of 7,100,088 flow-through common share units (FT Units) at C$0.28 each, generating C$1,988,024.64, and 4,000,000 hard dollar common share units (HD Units) at C$0.25 each, raising C$1,000,000 [2]. - Each FT Unit consists of one flow-through common share and one-half of a transferable common share purchase warrant, with the warrant allowing the purchase of one common share at C$0.50 until October 10, 2027 [3]. - Each HD Unit consists of one common share and one-half of a warrant, with similar terms for the warrant [4]. Warrant Details - The company has the right to accelerate the expiry date of the warrants if the closing price of its common shares reaches or exceeds C$0.75 for ten consecutive trading days after the closing date [5]. - All securities issued are subject to a hold period of four months and one day, expiring on February 11, 2026 [6]. Finder's Fees - The company paid cash finder's fees totaling C$130,003 and issued 478,204 finder's warrants, each allowing the purchase of one common share at C$0.50 for 24 months from the closing date [7]. Use of Proceeds - Proceeds from the FT Units will be allocated to Canadian exploration expenses related to critical mineral mining, while net proceeds from the HD Units will be used for administrative and general working capital, including investor relations activities [8]. Marketing Agreements - The company has entered into a digital marketing services agreement with Capitaliz for a three-month term, aimed at enhancing investor awareness and communication [11]. - Capitaliz will provide services including multimedia content creation, targeted traffic generation, and strategic social media amplification for a fee of C$200,000 [13]. - Additionally, an online marketing agreement with i2i Marketing Group has been established, with an initial budget of US$250,000 for corporate marketing and investor awareness services [15]. Company Overview - SAGA Metals Corp. focuses on the exploration of critical minerals essential for the transition to green energy, with significant projects including the Radar Titanium Project and the Double Mer Uranium Project in Labrador, and the Legacy Lithium Property in Quebec [18][19][20]. - The company is strategically positioned to contribute to the clean energy future through its diversified mineral portfolio [21].