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VANCOUVER, British Columbia, Aug. 07, 2025 (GLOBE NEWSWIRE) — Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB: MMETF) (“Miata” or the “Company”) is pleased to announce a non-brokered private placement offering (the “Offering”) for total gross proceeds of up to $3,000,000, consisting of up to 13,043,478 units of the Company (each, a “Unit”) at a price of $0.23 per Unit.
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Each Unit will consist of one common share in the capital of the Company and one-half of one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire an additional common share at a price of $0.40 for a period of 24 months following the closing of the Offering. The Warrants will be restricted from exercise until the 61st day following the closing of the Offering.
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The Company intends to use the proceeds from the Offering for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, and for general working capital and corporate purposes.
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The Units will be offered by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) in all of the provinces and territories of Canada, excluding Quebec. Pursuant to NI 45-106, the securities forming part of the Units issued to Canadian residents under the Offering will not be subject to resale restrictions. The Company is relying on the exemptions in Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Order”) and is qualified to distribute securities in reliance on the exemptions included in the Order.
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There is an offering document related to the Offering that will be made available under the Company’s profile on SEDAR+ at www.sedarplus.com. The offering document will also be made available on the issuer’s website at www.miatametals.com. Prospective investors should read this offering document before making an investment decision.
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The Offering is expected to close on or about August 21, 2025, or such other date that is within 45 days from August 7, 2025, as the Company may decide. The Offering remains subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, and compliance with the policies of the Canadian Securities Exchange (the “CSE”).
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It is anticipated that insiders of the Company (“Insiders”) may participate in the Offering for up to $500,000. The issuance of Units to Insiders will be considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company intends to rely on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such Insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.
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