Hayasa Metals upsizes private placement to C$2 million

Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) increased its non-brokered private placement offering by C$300,000 to C$2 million from the previously announced C$1.7 million, according to a company statement.

The placement will now consist of up to 11,764,706 units at C$0.17 per unit, increased from the original 10,000,000 units. Each unit comprises one common share and half of one share purchase warrant. Each whole warrant allows the holder to purchase one share at C$0.22 from 61 days after closing until 18 months from closing.

The units will be offered under the listed issuer financing exemption in all Canadian provinces and may be offered in the United States and other jurisdictions under available exemptions. Securities under the Canadian exemption will not be subject to resale restrictions.

"We are encouraged by the interest by existing and new shareholders in the offering and owing to strong demand that exceeds the initial offering size, we are pleased to increase the offering to $2,000,000 to accommodate the additional interest," said CEO Joel Sutherland.

The placement is being led by existing shareholders and insiders. Proceeds will fund exploration at the company's Urasar project in Armenia, evaluate other mineral property opportunities, and provide working capital.

The company may pay finders' fees up to 5% of proceeds raised by eligible finders. The placement is scheduled to close on or about September 19, 2025, subject to TSX Venture Exchange approval and other conditions.

Directors and officers may participate in the placement, which would constitute a related party transaction under securities regulations. Their participation is expected to be exempt from formal valuation and minority approval requirements as it will not exceed 25% of the company's market capitalization.

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