Casa Minerals plans $4M private placement with flow-through units

Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) announced a non-brokered private placement to raise up to $4 million through two tranches of unit offerings, according to a press release dated September 9, 2026.

The first tranche offers up to 25,000,000 flow-through units at $0.10 per unit, targeting gross proceeds of up to $2.5 million. Each flow-through unit includes one flow-through common share and one-half of a non-flow-through common share purchase warrant, exercisable at $0.15 per share for 24 months from issuance.

The second tranche offers up to 21,428,571 non-flow-through units at $0.07 per unit, targeting gross proceeds of up to $1.5 million. Each unit includes one common share and one warrant exercisable at $0.125 per share for 24 months from issuance.

The company may accelerate warrant expiry if its volume-weighted average trading price reaches or exceeds $0.20 for five consecutive trading days, after which warrants would expire 30 days following written notice.

Proceeds from the flow-through units will be applied to Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada), with the company intending to renounce those expenditures to subscribers for the fiscal year ended December 31, 2027. Proceeds from the non-flow-through units will be directed toward exploration activities and general working capital.

The company disclosed that certain directors may participate in the placement as insiders, classifying their subscriptions as related party transactions under TSXV Policy 5.9 and Multilateral Instrument 61-101. Casa Minerals intends to rely on exemptions from valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(a) of MI 61-101.

All securities issued will be subject to a four-month hold period. The placement remains subject to stock exchange acceptance. Finders' fees may be paid on a portion of the financing.

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