Power Metallic Mines Announces Brokered LIFE Offering for Gross Proceeds of up to C$25 Million

About this update from Power Metallic Mines Inc.

[{"type":"text","content":"THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":109,"tagName":"p"},{"type":"text","content":"TORONTO, ON / ACCESS Newswire / May 28, 2026 / Power Metallic Mines Inc. ("Power Metallic" or the "Company") (TSXV:PNPN)(OTCQB:PNPNF)(Frankfurt:IVV1) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. ("Red Cloud") pursuant to which Red Cloud will act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the "Agents") in connection with a "best efforts" private placement (the "Marketed Offering") for gross proceeds of up to C$25,000,000 from the sale of up to 20,000,000 common shares of the Company (the "Offered Shares") at a price of C$1.25 per Offered Share (the "Offering Price").","length":740,"tagName":"p"},{"type":"text","content":"The Company also grants the Agents an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional 2,400,000 Offered Shares at the Offering Price for up to an additional C$3,000,000 in gross proceeds (the "Agents' Option"). The Marketed Offering and the issuance of securities upon exercise of the Agents' Option shall be collectively referred to as the "Offering".","length":461,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering for the advancement of the Company's flagship NISK Project in Québec and its Jabul Baudan exploration license in Saudi Arabia, as well as for general working capital and corporate purposes, as is more fully described in the Offering Document (as defined herein).","length":328,"tagName":"p"},{"type":"text","content":"Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offered Shares will be offered for sale to purchasers resident in all of the provinces and territories of Canada and 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 Offered Shares are...

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