Miata Metals increases private placement to $5 million

Miata Metals Corp. (CSE: MMET) announced it has increased its non-brokered private placement offering to $5 million from a previously disclosed amount, citing strong investor demand.

The Vancouver-based mineral exploration company will issue 21,739,130 units at $0.23 per unit. Each unit consists of one common share and one-half of a transferable warrant. The warrants allow holders to purchase additional shares at $0.40 for 24 months following the closing, with exercise restrictions for the first 61 days.

The offering will be conducted under the listed issuer financing exemption across Canadian provinces and territories, excluding Quebec. Securities issued to Canadian residents will not be subject to resale restrictions under this exemption.

Miata plans to use proceeds for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, along with general working capital and corporate purposes. The company holds 70% interests in both projects with options to acquire full ownership.

The offering is expected to close on or around August 21, 2025, subject to regulatory approvals and Canadian Securities Exchange policy compliance. Company insiders may participate for up to $500,000, which will be treated as a related party transaction.

The company 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 exercise terms as the unit warrants.

Miata Metals trades on the Canadian Securities Exchange, OTCQB (OTCQB: MMETF), and Frankfurt exchanges (FSE: 8NQ).

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