Mogotes Metals Announces Closing of Second Tranche of Private Placement of Units and Upsize to Private Placement and Entering into Digital Marketing Agreement

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[{"type":"text","content":"Mogotes Metals Announces Closing of Second Tranche of Private Placement of Units and Upsize to Private Placement and Entering into Digital Marketing AgreementToronto, Ontario--(Newsfile Corp. - July 7, 2025) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\", or the \"Company\") is pleased to announce that, further to its press releases of June 2, 2025 and June 16, 2025, the Company has closed the second tranche of its non-brokered private placement through the issuance of 55,650,334 units (each, a \"Unit\") at a price of $0.20 per Unit for aggregate gross proceeds of $11,130,066.80 (the \"Offering\"). In addition, the Company has issued an additional 18,689,666 Units to an associated entity of the Braun family for gross proceeds of $3,737,933.20, which will be held in escrow pending the approval of the TSX Venture Exchange to release. The total proceeds raised from the first and second tranche, including the proceeds held in escrow is $22,000,000.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 shall entitle the holder thereof to acquire one Common Share at a price of $0.40 per Common Share for a period of two (2) years from the closing of the Offering.In connection with the closing of the second tranche of the Offering, the Company issued finders fees of 3,000,000 Common Shares.The Company also announces that it has further increased the size of the Offering to up to 112,500,000 Units for aggregate gross proceeds of up to $22,500,000. An additional tranche of the Offering is expected to close shortly and is subject to regulatory approval, including approval of the TSX Venture Exchange. All securities issued pursuant to the second tranche of 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 second tranche of 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. The proceeds from the sale of the Uni...

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