Domestic Metals Announces Closing of First Tranche and Extension of Private Placement

About this update from Domestic Metals Corp.

[{"type":"text","content":"Domestic Metals Announces Closing of First Tranche and Extension of Private Placement\n**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES** VANCOUVER, British Columbia, March 24, 2026 (GLOBE NEWSWIRE) -- Domestic Metals Corp. (the “Company” or “Domestic”) - (TSXV: DMCU; OTCQB: DMCUF; FSE: 03E0) reports that pursuant to their news releases dated February 4 and March 13, 2026, the Company has closed a first tranche of the private placement (the “Offering”) issuing an aggregate 11,205,505 units of the Company (“Units”) at a price of $0.28 per Unit for gross proceeds of $3,137,541.40. Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Share of the Company for a period of three years from the date of issuance at a price of $0.40 per Share. As part of the Offering, 553,570 Units were issued to a director of the Company and a Company of which a director is the sole beneficiary, which constituted a \"related party transaction\" as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61-101, pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. Finders received 7% cash and 7% non-transferable finder’s warrants exercisable for common shares of the Company at $0.40 per share for three years. Finders include Ventum Financial Corp. ($2,940 cash and 10,500 warrants), Leede Financial Inc. ($1,411.20 cash and 5,040 warrants), Canaccord Genuity Corp. ($69,171.34 cash and 247,041 warrants) and Asty Capital Corp. ($68,600 cash and 245,000 warrants). The Company was provided with an extension to close a final subsequent tranche of the Offering on or before April 13, 2026. The Company confirms there is no undisclosed material information. All securities issued in the Offering have a four-month plus one day hold period, during ...

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