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Toronto, Ontario--(Newsfile Corp. - November 26, 2025) - GreenLight Metals Inc. (TSXV: GRL) ("GreenLight" or the "Company") is pleased to announce that it has closed its previously announced "bought deal" private placement offering of an aggregate of 32,890,000 common shares of the Company ("Shares"), including 4,290,000 Shares issued as a result of the full exercise of the Underwriters' option, at a price of C$0.35 per Share for gross proceeds to the Company of C$11,511,500 (the "Offering"). The Offering was conducted by Stifel Nicolaus Canada Inc. and TD Securities Inc., as joint bookrunners and co-lead underwriters (together, the "Underwriters"), pursuant to an underwriting agreement dated November 26, 2025 between the Underwriters and the Company.
The Company intends to use the net proceeds received from the Offering for development purposes at the Company's Bend Project in Wisconsin, exploration on the Penokean VMS Belt in Wisconsin, property payments, project support and general corporate and working capital purposes, as further set out in the Offering Document (as defined below).
In connection with the Offering, the Company paid the Underwriters a cash commission of C$615,653.85 and issued to the Underwriters an aggregate of 1,544,622 non-transferable broker warrants of the Company (the "Broker Warrants"). Each Broker Warrant is exercisable into one Share at a price of C$0.35 per Share at any time prior to November 26, 2027.
The Shares were issued and sold to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). There is an offering document related to the Offering (the "Offering Document") that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.greenlightmetals.com. The Shares issued pursuant to the Listed Issuer Financing Exemption are not subject to a hold period in Canada pursuant to applicable Canadian securities laws. All other securities not issued pursuant to the Listed Issuer Financing Exemption, including the Broker Warrants, are subject to a statutory four month hold period in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About GreenLight Metals Inc.
GreenLight Metals is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic Belt-one of North America's most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada's Walker Lane. In Wisconsin, our portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets. Guided by a team with deep roots in the state, we are building a modern minerals company for Wisconsin, by Wisconsin-committed to responsible exploration, transparent engagement, and creating durable local opportunities as we help supply the critical metals that power the energy transition.
For more information, please contact:
Matt Filgate President & CEO
(778) 679-3579
matt@greenlightmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains statements that constitute "forward-looking statements" or "forward-looking information" under applicable securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements or information relate to, among other things: the intended use of proceeds from the Offering.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: management's broad discretion regarding the use of proceeds of the Offering, the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by applicable law.
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SOURCE: GreenLight Metals Inc.
