SAGA Metals Announces Closing of Oversubscribed Brokered LIFE Offering for Gross Proceeds of C$6.0 Million

About this update from Saga Metals Corp.

[{"type":"image","alt":"SAGA Metals Corp.","displaySize":"","headline":null,"caption":"SAGA Metals Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":92,"url":"https://media.zenfs.com/en/globenewswire.com/97c4fc9e64f34bedee590147d9bb2600"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/HmdtOWWhx17zjnT1jq8x7g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyOTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/97c4fc9e64f34bedee590147d9bb2600","width":300,"height":92}},"lazy":false},{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":98,"tagName":"p"},{"type":"text","content":"VANCOUVER, British Columbia, Dec. 05, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“SAGA” or the “Company”) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce, further to its news release dated November 12, 2025, the closing of its “best efforts” private placement (the “Offering”) for aggregate gross proceeds of approximately C$6,000,000, which includes the exercise in full of the $1,000,000 agent’s option. Pursuant to the Offering, the Company sold (i) 7,761,362 units of the Company (each, a "Unit") at a price of C$0.44 per Unit (the "Unit Price") and (ii) 5,170,000 flow-through units of the Company (each, a "FT Unit", and collectively with the Units, the “Offered Securities”) at a price of C$0.50 per FT Unit. Red Cloud Securities Inc. (“Red Cloud”) acted as sole agent and bookrunner in connection with the Offering.","length":946,"tagName":"p"},{"type":"text","content":"Each Unit consists of one common share of the Company (a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “FT Share”) and one Warrant. Each Warrant entitles the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.60 at any time on or before December 5, 2028.","length":495,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering for the exploration of the Company’s properties in Labrador, Canada, as well a...

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