Business
Mogotes Announces Closing of Private Placement
Toronto, Ontario--(Newsfile Corp. - February 2, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4...
About this update from Mogotes Metals Inc.
[{"type":"text","content":"Mogotes Announces Closing of Private PlacementToronto, Ontario--(Newsfile Corp. - February 2, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\", or the \"Company\") is pleased to announce that, further to its press releases of January 5, 2026 and January 6, 2026, it has successfully completed: (i) a non-brokered private placement of 86,792,425 Units at a price of $0.265 per Unit; and (ii) a non-brokered private placement of 12,500,000 units (each, a \"Unit\") at a price of $0.32 per Unit for aggregate gross proceeds of C$26,999,992.63 (the \"Offering\"). Each Unit is comprised of one common share (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.53 per Common Share for a period of three (3) years from the closing of the Offering. The gross proceeds from the sale of the Units will be used for general corporate and working capital purposes.In connection with the Offering, 20,103,197 Units issued to CD Capital Fund IV L.P. (\"CD Capital\") and related subscription proceeds of $5,327,347.205, will be held in escrow pending the approval of the TSX Venture Exchange. In addition, the Company has entered into an investor rights agreement with CD Capital. Under the terms of the investor rights agreement CD Capital has been granted: (i) a pre-emptive right to participate in any equity financing on the same terms as other investors to preserve its existing ownership stake while it holds 5% or more of issued shares of the Company; (ii) a top-up right to purchase additional shares whenever conversions or property-related share issuances dilute its stake by 2% or more; (iii) an additional subscription option, exercisable at any time within five years, to increase its holdings to up to 19.9% of the issued and outstanding shares of the Company; and (iv) the ongoing ability to nominate one director to the board of directors of the Company, for so long as it holds 5% or more of issued shares of the Company.Securities issued to subscribers in Canada and the United States in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance under Canadian securities legislation, in addition to such other restrictions as may apply under se...