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Mogotes Metals Announces Final Approval in Connection with Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - August 20, 2025) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4)...
About this update from Mogotes Metals Inc.
[{"type":"text","content":"Mogotes Metals Announces Final Approval in Connection with Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - August 20, 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, June 16, 2025, July 7, 2025 and July 14, 2025, the Company has received final approval of the TSX Venture Exchange (the \"TSXV\") with respect to the Company's non-brokered private placement of 111,200,000 units (each, a \"Unit\") for aggregate gross proceeds of $22,240,000 (the \"Offering\"). In connection with final approval of the Offering, proceeds of $3,737,933.20 have been released to the Company, representing the subscription proceeds from the sale of 18,689,666 Units that were released from escrow (the \"Escrowed Units\") on August 20, 2025 to an associated entity of the Braun family. In accordance with the requirements of Section 3.1 of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Aster Blue Ltd. (\"Aster Blue\"), announces that, in connection with the final TSXV approval of the Offering and the release of its Escrowed Units on August 20, 2025, it acquired an aggregate of 45,000,000 Units for an aggregate subscription price of $9,000,000. Each Unit comprised of one common share of Mogotes (a \"Common Share\"), and one-half of a Common Share purchase warrant (a \"Warrant\"), and each whole Warrant being exercisable to acquire one Common Share (a \"Warrant Share\") at a price of $0.40 per Warrant Share until July 4, 2027.Prior to the closing of the second tranche of the Offering, Aster Blue held no Common Shares of the Company. After the completion of the Offering and immediately following the release of the Escrowed Units which were pending TSXV approval, Aster Blue acquired an aggregate of 45,000,000 Units comprised of 45,000,000 Common Shares and 22,500,000 Warrants. As at today's date, Aster Blue holds 45,000,000 Common Shares, representing approximately 11.99% of the issued and outstanding Common Shares and 22,500,000 Warrants exercisable into 22,500,000 Warrant Shares. Assuming the exercise of the Warrants held by Aster Blue in full at this time, it could own approximately 16.97% of the issued and outstanding Common Shares on a partially diluted basi...