Miata Metals upsizes private placement to $5.5 million

Miata Metals Corp. (CSE: MMET) announced it has increased its non-brokered private placement offering to 23,913,043 units at $0.23 per unit for gross proceeds of up to $5.5 million, citing strong investor demand.

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

The offering uses 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 company plans to use proceeds for exploration activities at its Sela Creek and Nassau Gold projects in Suriname, plus general working capital and corporate purposes. The offering is expected to close on or about August 21, 2025, subject to regulatory approvals and Canadian Securities Exchange compliance.

Company insiders may participate for up to $500,000, which qualifies as a related party transaction under Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements.

Miata may pay finder's fees up to 6% of gross proceeds and issue non-transferrable finder's warrants equal to 6% of units issued, exercisable at $0.40 for 24 months.

The Vancouver-based mineral exploration company holds a 70% interest in the Sela Creek Gold Project with an option for 100% ownership, and a 70% beneficial interest in the Nassau Gold Project in Suriname with a 100% acquisition option.

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