Business
Hercules Metals Closes Bought Deal Private Placement of C$31.5 Million
Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules Metals" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement Offering (as defined below) of 53,353,000 common shares of the Company (each, a "Common Share") at a price of C$0.59 per Common Share (the "Offering Price") for gross proceeds of approximately C$31.5 million. Pursuant to the Offering, the Company issued.
About this update from Hercules Metals Corp
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules Metals" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement Offering (as defined below) of 53,353,000 common shares of the Company (each, a "Common Share") at a price of C$0.59 per Common Share (the "Offering Price") for gross proceeds of approximately C$31.5 million. Pursuant to the Offering, the Company issued 36,353,000 Common Shares at the Offering Price for gross proceeds of C$21,448,270 under the Listed Issuer Financing Exemption (as defined below) (the "LIFE Offering") and 17,000,000 Common Shares at the Offering Price for gross proceeds of C$10,030,000 pursuant to available prospectus exemptions other than the Listed Issuer Financing Exemption (the "Concurrent Offering" and together with the LIFE Offering, the "Offering"). The Offering was conducted on a bought deal private placement basis, with BMO Capital Markets and SCP Resource Finance (the "Underwriters") acting as joint bookrunners for the Offering.","length":1192,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds of the Offering for exploration and development of its 100% owned Hercules property in western Idaho (the "Hercules Project") and for general working capital purposes.","length":221,"tagName":"p"},{"type":"text","content":"Under the LIFE Offering, the Common Shares were offered for sale by way of private placement pursuant to the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), as modified by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption") in each of the Provinces of Canada (other than the Province of Quebec) and in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and in certain other jurisdictions outside of Canada and the United States provided that no prospectus filing or comparable obligation, ongoing reporting requirement ...