Miata Metals Announces Closing of $11.5 Million Public Offering Including Full Exercise of the Over-Allotment Option
Miata Metals Corp. (CSE:MMET) (FSE: 8NQ) (OTCQB: MMETF) is pleased to announce that it has closed its previously announced short form prospectus offering of common shares of the Company. The Company issued a total of 23,958,500 Common Shares at a price of $0.48 per share for gross proceeds of $11,500,080, inclusive of the full exercise of the over-allotment option.
The Common Shares were offered by way of a short form prospectus dated December 3, 2025 (the “Prospectus”) filed with the securities regulatory authorities in each of the provinces of Canada, other then the province of Québec, and in such other jurisdictions pursuant to applicable exemptions under applicable securities laws.
The Company intends to use the net proceeds from the Offering for exploration activities on its Sela Creek project in Suriname and for general working capital and corporate purposes as further described in the Prospectus.
“The closing of this Offering represents a significant milestone for Miata,” stated Dr. Jaap Verbaas, CEO of Miata. Dr. Verbaas continued, “We’re extremely encouraged by the strong institutional demand for this Offering, which has added more meaningful depth to our shareholder base. With a bona fide discovery in hand at Jon’s Trend, and four other targets with encouraging drill results at Sela Creek, we look forward to advancing our fully-funded work program for 2026, which should see us further delineate the Jon’s Trend discovery while systematically working towards additional discoveries on the property.”
The Offering was completed on a “best-efforts” agency basis through Cormark Securities Inc., acting as lead agent, and sole bookrunner, on behalf of a syndicate of agents including Clarus Securities Inc., H&P Advisory Limited, Agentis Capital Markets (First Nations Financial Limited Partnership), Canaccord Genuity Corp., and Haywood Securities Inc.
One officer of the Company, a “related party” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), participated in the Offering for aggregate proceeds of $27,360. This participation constitutes a “related party transaction” under MI 61-101. The Company is relying on the exemptions from (i) the formal valuation requirement in section 5.5(a) of MI 61-101 and (ii) the minority shareholder approval requirement in section 5.7(1)(a) of MI 61-101, as the fair market value of the officer’s participation does not exceed 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before closing of the Offering, as the details of the related party’s participation were not finalized until shortly before closing and the Company sought to complete the Offering on an expedited basis.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.
About Miata Metals Corp.
Miata Metals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQB and Frankfurt Exchanges. The Company is focused on the acquisition, exploration, and development of mineral properties. The Company holds a 70% interest in the ~215km2 Sela Creek Gold Project with an option to acquire a full 100% interest in the project, and a 70% beneficial interest in the Nassau Gold Project in Suriname with an option to acquire 100%. Both exploration properties are located in the greenstone belt of Suriname.
