Miata Metals closes $5.5 million private placement for exploration

Miata Metals Corp. (CSE: MMET) (OTCQB: MMETF) completed a non-brokered private placement offering, raising $5.5 million through the issuance of 23,913,044 units at $0.23 per unit.

Each unit consists of one common share and one-half of a transferrable warrant. The warrants allow holders to purchase additional common shares at $0.40 each until August 21, 2027, with exercise restrictions until October 21, 2025.

The Vancouver-based mineral exploration company plans to use proceeds for exploration activities at its Sela Creek and Nassau Gold projects in Suriname, along with general working capital and corporate purposes.

In connection with the offering, Miata paid $165,004 in finder's fees and issued 771,410 finder's warrants exercisable at $0.40 until August 2027. Two directors and one officer participated in the placement for $121,002 in aggregate proceeds.

Miata holds a 70% interest in the Sela Creek Gold Project with an option to acquire full ownership, and maintains a 70% beneficial interest in the Nassau Gold Project, also with a 100% acquisition option. Both properties are located in Suriname's greenstone belt.

The securities were issued under the listed issuer financing exemption and are not subject to resale restrictions for Canadian residents. The company trades on the Canadian Securities Exchange, OTCQB, and Frankfurt exchanges.

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