Rackla Metals Completes Private Placement Financing, Raising $3.44 Million

About this update from Rackla Metals Inc.

(via TheNewswire) Vancouver, British Columbia – May 25, 2026 – TheNewswire – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to report that it has closed its previously announced non-brokered private placement financing (the “Offering”), raising total gross proceeds of $3.44 million with the issuance of 16.0 million charity flow-through units (the “CFT Units”) at a price of $0.215 per unit. Each CFT Unit consists of one charity flow-through common share in the capital of the Company (each, a “Common Share”) that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) (each, a “CFT Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one non-flow-through Common Share (each, a “Warrant Share”) at an exercise price of $0.20 per Warrant Share for a period of 12 months following the closing of the Offering. The gross proceeds from the sale of the CFT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” for the purposes of the Tax Act on or before December 31, 2027.  Such gross proceeds will be renounced in favour of the purchasers with an effective date of not later than December 31, 2026, in an aggregate amount equal to the total amount of the gross proceeds from the sale of CFT Shares under the Offering. Management currently intends to use the proceeds of the Offering primarily for conducting exploration and drilling on the Company’s Lentung tungsten property located within the Tombstone Gold Belt in western Northwest Territories, Canada, and potentially for advancing the Company’s other properties in the region. The Company has paid finder’s fees for a portion of the Offering consisting of cash payments totalling $139,329, and non-transferable warrants entitling the holders to purchase up to 928,856 Common Shares exercisable at a price of $0.215 per share for a period of 12 months following the closing of the Offering.   The securities issued to the placees pursuant to the Offering are not subject to resale restrictions pursuant to applicable Canadian securities laws.  Any Common Shares acquired on exercise of the finder’s fee warrants have a resale restriction until September 23, 2026. The ...

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