Business
Metal Energy Announces $9.3 Million Financing; Centerra Gold to Become a Strategic Shareholder
Toronto, Ontario--(Newsfile Corp. - November 27, 2025) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce that it intends to complete a financing for aggregate gross proceeds of up to C$9.3 million, consisting of approximately: (i) 8,880,000 common shares to be issued on a premium flow-through basis (each, an "FT Share") at a price of C$0.73 per FT Share; and (ii) 6,200,000 common shares (each, a "Share") at a price of C$0.45 per Share (the.
About this update from Centerra Gold Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - November 27, 2025) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce that it intends to complete a financing for aggregate gross proceeds of up to C$9.3 million, consisting of approximately: (i) 8,880,000 common shares to be issued on a premium flow-through basis (each, an "FT Share") at a price of C$0.73 per FT Share; and (ii) 6,200,000 common shares (each, a "Share") at a price of C$0.45 per Share (the "Offering").","length":567,"tagName":"p"},{"type":"text","content":"Proceeds from the Offering will be used to fund Metal Energy's 2026 maiden drill program at its NIV copper-gold-molybdenum project in the Toodoggone district of British Columbia, where NIV is fully permitted with well-defined, drill-ready targets.","length":251,"tagName":"p"},{"type":"text","content":"The FT Shares will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur, on the Company's Canadian mineral exploration properties, eligible resource exploration expenses that will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), (ii) "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Tax Act), and (iii) "BC flow-through mining expenditures" for purchasers in British Columbia (collectively, the "Qualifying Expenditures"). The Qualifying Expenditures, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares, will be incurred on or before December 31, 2026 and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2025. In the event that the Company is unable to renounce the full issue price of the FT Shares on or prior to December 31, 2025 and/or if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each initial purchaser for the additional taxes payable by such subscriber to the extent permitted by the Tax Act as a result of the Company's failure to renounce the Qualifying Expenditures as a...