Gladiator Metals raises C$35M in BlackRock-led private placement

Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) announced a non-brokered private placement led by BlackRock World Mining Trust to raise gross proceeds of C$35,040,000, according to a company statement.

The offering consists of 7,000,000 Charity Flow-Through common shares at C$3.87 per share and 3,000,000 Non-Flow-Through common shares at C$2.65 per share. The offering is expected to close on or about July 15, 2026, subject to TSX Venture Exchange conditional approval and other closing conditions.

CEO Jason Bontempo said the placement "will bolster treasury to $50m and will fully fund and aggressively accelerate the Company's 2026 and 2027 exploration campaign at its flagship Whitehorse Copper Project." He added that drilling plans will focus on increasing active drill rigs from three to six before the end of summer.

Proceeds from the flow-through shares will be used to incur eligible Canadian exploration expenses and flow-through critical mineral mining expenditures, which the company must incur by December 31, 2027, with renouncement to initial purchasers effective no later than December 31, 2026.

Exploration targets include the Cub East copper and gold prospect and the Cowley copper, gold, and molybdenum prospect, both described as open along strike and at depth.

Separately, the company announced plans to grant 1,000,000 restricted share units and 1,000,000 incentive stock options to certain directors, officers, and consultants, subject to TSX Venture Exchange approval. The options are exercisable at C$3.00 per share for five years, while the restricted share units vest over a two-year term.

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