Giga Metals Completes First Tranche of Private Placement

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

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VANCOUVER, British Columbia, July 30, 2025 (GLOBE NEWSWIRE) — Giga Metals Corp. (“Giga” or “the Company”) (TSX-V: GIGA, OTCQB: GIGGF) is pleased to announce the closing of the first tranche of its non-brokered private placement financing announced on July 17, 2025 (the “Offering”).

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The Offering consists of both flow-through units (“FT Units”) and hard dollar units (“HD Units”) In the first tranche of the Offering, the Company closed on 3,449,039 FT Units at a price of $0.09 per FT Unit for gross proceeds of $310,414; and 1,950,000 HD Units at a price of $0.08 per HD Unit for gross proceeds of $156,000.

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Each FT Unit consists of one flow through common share of the Company (each a “FT Share”) and one common share purchase warrant (each a “FT Warrant”). Each HD Unit consists of one common share of the Company (each a “HD Share” and together with the FT Shares, the “Shares”) and one common share purchase warrant (each a “HD Warrant” and together with the FT Warrants, the “Warrants”). Each warrant is exercisable at $0.11 for three years, expiring July 30, 2028. The securities issued have a hold period expiring 4 months plus one day after issuance, being December 1, 2025. 
  
Proceeds from the flow-through offering will be used to advance the Turnagain project and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units to incur eligible “Canadian exploration expenses” that will qualify as “flowthrough mining expenditures” as such terms are defined in the “Tax Act”.

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Finder’s fees were paid on 4,021,262 Units for a total of $24,738 in cash plus a total of 281,488 finder’s warrants. Each finder’s warrant is exercisable into one common share of the Company at a price of $0.08 per common shares for a period of three years from the date of issuance, being July 30, 2025. 

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Completion of a second tranche of the private placement is anticipated to occur on or about August 13, 2025 or such other date as the Company may determine, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”).
  
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.