Azarga Metals raises $2.94M in private placement

Azarga Metals Corp. (TSXV: AZR) closed a non-brokered private placement on September 28, 2026, raising gross proceeds of $2,941,479 through the issuance of 16,341,552 common shares at $0.18 per share, according to a press release.

The company paid cash finder's fees of $60,118 and issued 333,991 non-transferable finder's warrants, each exercisable at $0.18 per share for two years from the closing date. All securities issued are subject to a four-month and one-day hold period under applicable securities laws. The placement remains subject to approval from the TSX Venture Exchange.

Net proceeds are intended to fund exploration at the company's 100%-owned Marg copper-rich VMS project in the Keno Hill Silver District of Yukon Territory, cover placement costs, and support general working capital.

Separately, Azarga Metals granted 2,616,666 restricted share units to directors, officers, and a consultant under its Equity Incentive Plan. RSUs issued to independent directors and the consultant vest on the first anniversary of the grant date, while those issued to officers vest in equal thirds over three years. The company also granted 1,450,000 stock options at $0.18 per share, exercisable for five years and vesting immediately upon grant.

You May Also Be Interested In

• Cloudflare plans public certificate authority with post-quantum support
• American Vanguard acquires four Syngenta crop-protection brands in US
• Vivos Therapeutics targets $3.6M in annual cost cuts, eyes revenue growth