NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, April 30, 2026 (GLOBE NEWSWIRE) -- Giga Metals Corp. ("Giga Metals" or the "Company") (TSX-V: GIGA; OTCQB: GIGGF; FSE: BRR2) is pleased to announce that further to its news release dated April 27, 2026, the Company has closed the first tranche of its private placement for 11,473,500 units at a price of $0.08 per unit for gross proceeds of $917,880.
Each Unit consists 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 three (3) years from the closing of the Private Placement ("Closing").
The securities issued have a hold period expiring 4 months plus one day after issuance, being August 31, 2026.
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.
Completion of a second tranche of the private placement is anticipated to occur on or about May 15, 2026 or such other date as the Company may determine, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange (the "TSXV").
Finder's fees were paid on 9,607,500 Units for a total of $53,802 in cash plus a total of 627,525 finder's warrants. Each finder's warrant is exercisable into one common share of the Company at a price of $0.08 per common shares for a period of three years from the date of issuance, being April 30, 2026.
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 sulphide 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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