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Abitibi Metals Announces Closing of Non-Brokered Financing for Gross Proceeds of $30.75 Million
May 15, 2026 / London, Ontario - TheNewswire – Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (WKN:A3EWQ3) (“Abitibi” or the “Company”) is pleased to announce
About this update from Abitibi Metals Corp
[{"type":"text","content":"May 15, 2026 / London, Ontario - TheNewswire – Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (WKN:A3EWQ3) (“Abitibi” or the “Company”) is pleased to announce that it has closed its non-brokered strategic private placement (the “Offering”) for aggregate gross proceeds of C$30,752,228. Discovery Silver Corp. (“Discovery”) subscribed for 23,704,790 common shares which represents approximately 9.9% of the issued and outstanding common shares of the Company on a non-diluted basis following closing of the Offering. In connection with closing of the Offering, Abitibi Metals and Discovery have entered into a participation agreement, whereby, subject to certain conditions, the Company will grant certain financing and other participation rights to enable Discovery to maintain its shareholding interest in the Company and other customary investor rights. Jonathon Deluce, President & CEO of Abitibi Metals, commented: “The closing of this strategic financing marks a significant milestone for Abitibi Metals and further validates the quality and long-term potential of the B26 Copper-Gold Project. We are pleased to welcome Discovery as a strategic investor as we continue to advance one of the most compelling high-grade copper-gold development stories in Québec. With more than $45 million in treasury, a rapidly expanding resource base, and a fully funded 80,000 metre drill program underway, the Company is exceptionally well-positioned to accelerate exploration and unlock further value across the B26 system. Supported by a strong balance sheet, an experienced technical team, and a premier mining jurisdiction, we remain focused on building a leading critical minerals company within the prolific Abitibi Greenstone Belt.” The Offering closed by way a combination of: (i) 11,764,706 charity flow-through common shares (the “CFT Shares”) at a price of $0.85 per CFT Share, and (ii) 35,779,704 hard dollar common shares (the “HD Shares”) at a price of $0.58 per HD Share, for total aggregate gross proceeds of C$30,752,228. All securities issued pursuant to the Offering bear a statutory hold period of four months and one day from the closing date in accordance with applicable securities laws and policies of the Canadian Securities Exchange (“CSE”). Following the closing of the Offering, the Company will complete its post-closing filing requirements with th...