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J2 Metals Inc. Announces Closing of First Tranche of Flow-Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2026) - J2 Metals Inc. (TSXV: JTWO) (...
About this update from J2 Metals Incorporation
[{"type":"text","content":"J2 Metals Inc. Announces Closing of First Tranche of Flow-Through Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 23, 2026) - J2 Metals Inc. (TSXV: JTWO) (FSE: OO1) (\"J2\" or the \"Company\") announces that further to its previous press release, it has closed the first tranche of its non-brokered flow-through private placement financing (the \"FT Subscription Receipt Offering\") through the issuance of 1,365,714 flow-through subscription receipts (the \"FT Subscription Receipts\") at a price $0.35 per FT Subscription Receipt for aggregate gross proceeds of $478,000. A second and final tranche of the FT Subscription Receipt Offering of up to an additional approximately $1,022,000 remains open and will close in due course. Thomas Lamb, CEO of J2, commented: \"We are pleased to announce the successful closing of the first tranche of our flow-through financing. The proceeds will directly fund our upcoming 3D induced polarization survey and follow-up diamond drilling program along the largely untested 7-kilometre conductive horizon at our Miniac Project in Québec's Abitibi Greenstone Belt. Miniac represents a compelling discovery opportunity in one of the world's premier VMS districts, and this financing allows us to advance the project in a disciplined and systematic manner. We expect to close the balance of the flow-through offering by mid-March to accommodate several investors who were unable to participate in the initial tranche.\"Each FT Subscription Receipt issued pursuant to the FT Subscription Receipt Offering will entitle the holder thereof to receive, upon satisfaction of the escrow release conditions that include completion of the Company's previously announced plan of arrangement between the Company and Twenty Mile Metals Inc., and without payment of any additional consideration or further action on the part of the holder, one common share in the capital of the Company. No warrants will be issued in connection with the Flow-Through Subscription Receipt Offering. The common shares underlying the FT Subscription Receipts will be issued on a flow-through basis pursuant to the Income Tax Act (Canada).The gross proceeds from the sale of the FT Subscription Receipts will be held in escrow pending satisfaction of the escrow release conditions. If the escrow release conditions are not satisfied, the...