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Formation Metals Announces Upsize Of Non-Brokered Offering Of Up To $22 Million To Increase Drill Program To 75,000 Metres
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / May 19, 2026 /Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American ...
About this update from Formation Metals Inc.
[{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":97,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / May 19, 2026 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that the Company has increased the size of its previously announced non-brokered private placement of common shares (the "Offering") from up to $15,000,000 to up to CAD $22,000,000.","length":432,"tagName":"p"},{"type":"text","content":"The increase in the size of the Offering was driven primarily by strong investor demand, with the order book remaining oversubscribed even after the increase from the originally announced size. All other terms of the Offering remain unchanged from those set out in the Company's news release dated April 29, 2026 (the "Initial News Release").","length":356,"tagName":"p"},{"type":"text","content":"Upon closing of the Offering, the Company intends on increasing its 2026-2027 drill program to a fully funded 75,000 metres at the its flagship N2 Gold Project in Quebec (the "Property"), host to a global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4.","length":429,"tagName":"p"},{"type":"text","content":"The Company is presently undertaking a fully funded 30,000 metre drill program which has exceeded expectations, confirming geological continuity and delivering robust and continuous gold intercepts in holes drilled within the northern corridor of the A-Zone, including:","length":269,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"N2-25-006: 1.8 g/t Au over 21.9 metres beginning at 154.4 metres downhole, 133.7 metres vertical. Highlight interval includes 3.4 g/t Au over 4.8 metres with total metal index of 79.56.","length":185,"tagName":"p"}]},{"val":[{"type":"text","content":"N2-25-008: 0.95 g/t Au over 61.1 metres beginning at 109 metres downhole, 94.4 metres vertical. Highlight interval includes 1.68 g/t Au over 26.5 metres with total metal index of 67.97.","length":185,"tagName":"p"}]},{"val":[...