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Mogotes Metals Announces Closing of C$11.5 Million Bought Deal Offering, Including Full Exercise of the Underwriters' Option
Toronto, Ontario--(Newsfile Corp. - January 22, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4...
About this update from Mogotes Metals Inc.
[{"type":"text","content":"Mogotes Metals Announces Closing of C$11.5 Million Bought Deal Offering, Including Full Exercise of the Underwriters' OptionToronto, Ontario--(Newsfile Corp. - January 22, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\" or the \"Company\") is pleased to announce the closing of its previously announced \"bought deal\" private placement offering pursuant to the Listed Issuer Financing Exemption (as defined below) of an aggregate of 35,937,500 units of the Company (the \"Units\") at a price of C$0.32 per Unit for aggregate gross proceeds of C$11,500,000 (the \"Offering\"), which includes the full exercise of the option granted to the Underwriters (as defined below). Each Unit consists of one common share of the Company (a \"Common Share\") and one-half (0.5) of one Common Share purchase warrant (each whole warrant, a \"Warrant\") of the Company. Each Warrant is exercisable to acquire one Common Share (a \"Warrant Share\") for a period of 36 months following the closing date of the Offering at an exercise price of C$0.53 per Warrant Share.Stifel Nicolaus Canada Inc., as lead underwriter and sole bookrunner, together with Canaccord Genuity Corp. (collectively, the \"Underwriters\"), acted as underwriters under the Offering pursuant to the terms of an underwriting agreement dated January 22, 2026 between the Company and the Underwriters.The net proceeds of the Offering shall be used for funding the Company's exploration work programs and development of the Company's Filo Sur property, and general working capital purposes, all as further described in the Offering Document (as defined below).In accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Units were issued to purchasers resident in certain provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). Pursuant to the Listed Issuer Financing Exemption, the Units, and the Common Shares, Warrants and Warrant Shares underlying the Units, issued pursuant to the Offering are not subject to a statutory hold period in Canada pursuant to applicable Canadian securities laws. The Units were also offered in t...