Metalsource Mining Closes Private Placement

About this update from Metalsource Mining Inc.

[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - January 2, 2026) - METALSOURCE MINING INC. (CSE: MSM) (the "Company" or "Metalsource") is pleased to announce that, further to its news release dated December 24, 2025, it closed the non-brokered private placement for total gross proceeds of $1,020,000 (the "Offering") on December 31, 2025.","length":373,"tagName":"p"},{"type":"text","content":"The Company has allotted and issued 3,400,000 units (the "Units") at a price of $0.30 per Unit. Each unit consists of one common share of the Company (the "Shares") and one-half of one transferable share purchase warrant (each whole, a "Warrant"), with each Warrant entitling the holder to acquire one additional common share at an exercise price of $0.40 for a period of two (2) years from the closing date.","length":438,"tagName":"p"},{"type":"text","content":"The Units issued pursuant to the Offering are subject to a four-month and one day hold period from the date of issuance under applicable Canadian securities laws.  No finders fees were paid in connection with the Offering.","length":227,"tagName":"p"},{"type":"text","content":"Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 3,400,000 Units pursuant to the Offering for total consideration of $1,020,000. Prior to the Offering, Mr. Sprott beneficially owned or controlled 7,500,000 Shares and 3,750,000 Warrants, representing approximately 12.7% of the outstanding Shares on a non-diluted basis and 17.9% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants.","length":463,"tagName":"p"},{"type":"text","content":"As a result of the Offering, Mr. Sprott now beneficially owns or controls 10,900,000 Shares and 5,450,000 Warrants, representing approximately 17.5% of the outstanding Shares on a non-diluted basis and 24.1% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants.","length":298,"tagName":"p"},{"type":"text","content":"The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the fu...

More updates from Metalsource Mining Inc.