Business
Mogotes Announces Upsize to Private Placement
Toronto, Ontario--(Newsfile Corp. - January 5, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4)...
About this update from Mogotes Metals Inc.
[{"type":"text","content":"Mogotes Announces Upsize to Private PlacementToronto, Ontario--(Newsfile Corp. - January 5, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\", or the \"Company\") is pleased to announce that, further to today's press release and due to investor demand, the Company has upsized its non-brokered private placement to up to 86,792,452 units (each, a \"Unit\") at a price of $0.265 per Unit for aggregate gross proceeds of up to C$23,000,000 (the \"Offering\").Each Unit shall be 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 shall entitle the holder thereof 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.The Company intends to give priority participation in the private placement to existing shareholders.All securities issued pursuant to the Offering in Canada and the United States will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Subject to compliance with applicable regulatory requirements, all securities to be issued pursuant to the Offering in jurisdictions outside of Canada and the United States pursuant to Ontario Securities Commission Rule 72-503 - Distributions Outside Canada will not be subject to any statutory hold period under applicable Canadian securities laws. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Qualified Persons The scientific ...