Business
XXIX Announces $12 Million Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Xxix Metal Corp.
[{"type":"text","content":"XXIX Announces $12 Million FinancingNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Ontario--(Newsfile Corp. - January 21, 2026) - XXIX Metal Corp. (TSXV: XXIX) (\"XXIX\" or the \"Company\") is pleased to announce that it has entered into an agreement with SCP Resource Finance LP (\"SCP\") to act as lead agent and bookrunner, on behalf of a syndicate of agents to be formed (together with SCP, the \"Agents\"), in connection with a \"best efforts\" private placement offering (the \"Offering\") for aggregate gross proceeds of up to $12,000,290 from the sale of any combination of the following:Ontario charity flow-through units (the \"Ontario FT Units\") at a price of $0.18 per Ontario FT Unit (the \"Ontario FT Issue Price\");Québec charity flow-through units (the \"Québec FT Units\") at a price of $0.19 per Québec FT Unit (the \"Québec FT Issue Price\"); and units (the \"Units\", and together with the Ontario FT Units and Quebec FT Units, the \"Offered Securities\") at a price of $0.12 per Unit (the \"Unit Issue Price\").Each Ontario FT Unit will consist of one common share of the Company (an \"Ontario FT Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\") that will each qualify as a \"flow-through share\" for the purposes of the Income Tax Act (Canada) (the \"Tax Act\"). Each Québec FT Unit will consist of one common share of the Company (a \"Québec FT Share, together with the Ontario FT Shares, the \"FT Shares\") and one-half of one Warrant that will each qualify as a \"flow-through share\" for the purposes of the Taxation Act (Québec) (the \"Québec Tax Act\"). Each Unit will consist of one common share of the Company (each, a \"Common Share\") and one-half of one Warrant, each of which will not qualify as a \"flow-through share\" for the purposes of the Tax Act.Each Warrant will entitle the holder thereof to acquire one non-flow-through common share of the Company (a \"Warrant Share\") at a price of $0.17 per Warrant Share for a period of 24 months from the closing of the Offering. Each Warrant issued shall be subject to a restriction on exercise expiring 61 days from the issue date.A maximum of 58,343,800 Common Shares and 29,171,900 Warrants composing ...