Business
T2 Metals Closes Oversubscribed Private Placement of $1.468 Million
Vancouver, British Columbia--(Newsfile Corp. - December 11, 2025) - T2 Metals Corp. (TSXV: ...
About this update from T2 Metals Corp
[{"type":"text","content":"T2 Metals Closes Oversubscribed Private Placement of $1.468 MillionVancouver, British Columbia--(Newsfile Corp. - December 11, 2025) - T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A3DVMD) (\"T2\" or the \"Company\")  is pleased to announce the closing of its oversubscribed non-brokered private placement (the \"Financing\") announced on November 12, 2025 and December 3, 2025, by issuing a total of 4,562,567 hard dollar units (each a \"HD Unit\"), at a price of $0.30 per HD Unit, for gross proceeds of $1,368,770 and 250,000 flow-through units (each a \"FT Unit\") at a price of $0.40 per FT Unit for gross proceeds of $100,000.Each HD Unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.45 for a period of two years from closing. Each FT Unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant was issued on a non-flow-through basis and entitles the holder to purchase an additional common share at a price of $0.45 for a period of two years from closing.Net proceeds from the Financing will be used to fund exploration at the Company's Sherridon copper-gold project in Manitoba, the Shanghai gold-silver project in the Yukon's Tombstone Gold Belt and for working capital.Mark Saxon, CEO of T2 Metals Corp commented, \"We appreciate the support of existing and new shareholders who took part in this oversubscribed financing. The Company is very well placed with exciting gold, copper and silver projects in Manitoba and the Yukon, and we look forward at a highly successful 2026.\" The gross proceeds from the sale of FT Units will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through critical mineral mining expenditures\" as both terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") related to the Sherridon Project, Manitoba. Certain insiders of the Company participated in the Offering and purchased an aggregate of 999,833 HD Units and 125,000 FT Units. Participation of the insiders in the offering constituted a \"related party transaction\" as defined under Multilateral Instrument 61‐101 - Protection of Minority Security Holders in Special Transactions (\"MI 6...