Business
GreenLight Metals Announces Closing of $11.5 Million Bought Deal Financing
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNIT...
About this update from Greenlight Metals Inc
[{"type":"text","content":"GreenLight Metals Announces Closing of $11.5 Million Bought Deal FinancingTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESToronto, Ontario--(Newsfile Corp. - November 26, 2025) - GreenLight Metals Inc. (TSXV: GRL) (\"GreenLight\" or the \"Company\") is pleased to announce that it has closed its previously announced \"bought deal\" private placement offering of an aggregate of 32,890,000 common shares of the Company (\"Shares\"), including 4,290,000 Shares issued as a result of the full exercise of the Underwriters' option, at a price of C$0.35 per Share for gross proceeds to the Company of C$11,511,500 (the \"Offering\"). The Offering was conducted by Stifel Nicolaus Canada Inc. and TD Securities Inc., as joint bookrunners and co-lead underwriters (together, the \"Underwriters\"), pursuant to an underwriting agreement dated November 26, 2025 between the Underwriters and the Company.The Company intends to use the net proceeds received from the Offering for development purposes at the Company's Bend Project in Wisconsin, exploration on the Penokean VMS Belt in Wisconsin, property payments, project support and general corporate and working capital purposes, as further set out in the Offering Document (as defined below). In connection with the Offering, the Company paid the Underwriters a cash commission of C$615,653.85 and issued to the Underwriters an aggregate of 1,544,622 non-transferable broker warrants of the Company (the \"Broker Warrants\"). Each Broker Warrant is exercisable into one Share at a price of C$0.35 per Share at any time prior to November 26, 2027.The Shares were issued and sold to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). There is an offering document related to the Offering (the \"Offering Document\") that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.greenlightmetals.com. The Shares issued pursuant to the Listed Issuer Financing Exemption are not subject to a...