NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, April 15, 2026 (GLOBE NEWSWIRE) -- Giga Metals Corp. ("Giga Metals" or the "Company") (TSX-V: GIGA; OTCQB: GIGGF; FSE: BRR2) is pleased to announce a non-brokered private placement (the "Private Placement") of a Unit Offering ("Units") in the Company, for aggregate gross proceeds of up to C$1,000,000, at a price of $0.08 per Unit.
Each Unit will consist of one (1) common share of the Company and one (1) non-transferable share purchase warrant. Each whole warrant will be exercisable into one (1) common share of the Company at an exercise price of C$0.15, for a period of two (2) years from the closing of the Private Placement ("Closing").
The proceeds of the Private Placement will be used to advance development activities at the Turnagain project; exploration activities at Turnagain focusing on the Attic zone; and for general corporate purposes.
Closing is anticipated to occur on or about May 5, 2026, and is subject to certain closing conditions, including the approval of the TSX Venture Exchange (the "TSXV"). The Company may pay finder's fees in cash or securities to certain arm's length finders engaged in connection with the Private Placement, subject to the approval of the TSXV. The securities issued in the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.
It is expected that certain directors and officers of the Company (the "Insiders") may participate in the Offering. The participation of Insiders in the Offering will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities to be acquired by the participating Insiders nor the consideration to be paid by such directors and officers is anticipated to exceed 25 percent of the Company's market capitalization.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Giga Metals Corporation
Giga Metals Corporation's core asset is the Turnagain Project located in northern British Columbia, which contains one of the few significant undeveloped sulfide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned jointly by Giga Metals Corporation and Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023. The Turnagain ultramafic complex is also prospective for copper, platinum and palladium mineralization in the Attic Zone, an area adjacent to the known nickel resource.
Forward-looking Statements
Certain statements in this news release are forward-looking statements, which reflect the expectations of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include, but are not limited to, completion of the Private Placement and any additional funding for the Turnagain Project. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: the conditions to closing of the Private Placement may be not be satisfied; the Company may not be able to locate suitable investors for the Private Placement and the terms for any additional funding of the Turnagain Project may not be finalized. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
On behalf of the Board of Directors of Giga Metals Corporation
"Scott Lendrum"
SCOTT LENDRUM,
CEO and Director
Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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