Miata Metals announces $3 million private placement at $0.23 per unit

Miata Metals Corp. (CSE: MMET) announced a non-brokered private placement offering for gross proceeds of up to $3 million. The company will issue up to 13,043,478 units at $0.23 per unit.

Each unit consists of one common share and one-half transferable warrant. The warrants allow holders to purchase additional shares at $0.40 within 24 months of closing, with exercise restricted until 61 days after closing.

The company plans to use proceeds for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, plus general working capital and corporate purposes.

The offering will use the listed issuer financing exemption under National Instrument 45-106 across Canadian provinces and territories, excluding Quebec. Securities issued to Canadian residents will not face resale restrictions.

The placement is expected to close around August 21, 2025, or within 45 days of August 7, 2025, subject to regulatory approvals and Canadian Securities Exchange compliance.

Company insiders may participate for up to $500,000, which constitutes a related party transaction under securities regulations. The company will rely on exemptions since the transaction value involving interested parties does not exceed 25% of market capitalization.

Miata may pay finder's fees of up to 6% of gross proceeds and issue finder's warrants equal to 6% of units issued, with the same $0.40 exercise price and 24-month term.

The Vancouver-based mineral exploration company holds a 70% interest in the Sela Creek Gold Project and Nassau Gold Project in Suriname, with options to acquire full ownership of both properties.

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