NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / July 2, 2026 / Phoenix Metals Corp. (TSX:PCA) ("Phoenix" or the "Company") is pleased to announce that it has obtained a receipt for its final base PREP prospectus dated June 30, 2026 filed with the securities regulatory authorities in each of the provinces of Canada, except Québec, and has entered into an underwriting agreement in connection with its initial public offering of Class A common shares (the "Common Shares") of the Company (the "Offering"). The Offering consists of 34,000,000 Common Shares issued from treasury at a price of $1.25 per Common Share (the "Offering Price"), for total gross proceeds of $42,500,000. This press release updates the Company's press release dated June 30, 2026, in which the Company announced an increase in the gross proceeds of the Offering to $40,000,000. The Offering is expected to close on or about July 9, 2026, subject to customary closing conditions.
The Company has also granted the Underwriters (as defined below) an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part at any time up to 30 days following the closing of the Offering, to purchase up to an additional 5,100,000 Common Shares from treasury at the Offering Price, to cover over-allotments, if any, and for market stabilization purposes. If the Over-Allotment Option is exercised in full, the Offering will raise aggregate gross proceeds of $48,875,000.
The Offering is being conducted through a syndicate of underwriters co-led by Canaccord Genuity Corp. and National Bank Financial Inc., as joint-lead managers and joint bookrunners, and includes Haywood Securities Inc. and RBC Dominion Securities Inc. (collectively, the "Underwriters").
The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the Common Shares (including the Common Shares to be distributed under the Offering) under the trading symbol "PCA". Listing is subject to the Company fulfilling all of the requirements of the TSX. The Common Shares are expected to begin trading on the TSX on an "if, as and when issued basis" on July 6, 2026, under the symbol "PCA".
The supplemented PREP prospectus (the "Supplemented Prospectus"), containing pricing information and other important information relating to the Company, the Common Shares and the Offering is accessible under the Company's profile on SEDAR+ at www.sedarplus.ca. Access to the Supplemented Prospectus is provided in accordance with securities legislation relating to procedures for providing access to a supplemented PREP prospectus. An electronic or paper copy of the Supplemented Prospectus and any amendment may be obtained, without charge, from Canaccord Genuity Corp. by email at ecm@cgf.com or from National Bank Financial Inc. by email at nbf-syndication@bnc.ca, by providing the contact with an email address or address, as applicable.
No securities regulatory authority has reviewed or approved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in any jurisdiction in which the offering, solicitation or sale is not permitted.
The securities under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act), unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.
Unless otherwise indicated, all references to dollar amounts in this press release are to Canadian dollars.
About Phoenix Metals Corp.
Phoenix Metals Corp. is a Canadian mineral exploration company focused on the exploration and development of gold-copper deposits in south-central British Columbia. The Company's principal asset is the Greenwood Project, comprising the Lexington, Golden Crown, Blue Bell, Phoenix, Tam O'Shanter, and Boundary Falls and Haas Creek properties located between the Towns of Greenwood and Grand Forks, British Columbia, and consisting of 156 active mineral claims, four mining leases, and 211 Crown Granted parcels.
ON BEHALF OF PHOENIX METALS CORP.
Chris Lodder
Chair of the Board of Directors
For Further Information Please Contact:
Carly Church
Chief Operating Officer
Phone: (604)-220-0404
Email: CarlyC@phoenixmetalscorp.com
Forward Looking Information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the Offering, the pricing thereof, the size of the Offering, including the potential exercise of the Over-Allotment Option, the closing of the Offering, and the listing of the Common Shares on the TSX and receipt of final TSX approval.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, readers should not place undue reliance on any of these forward-looking statements.
Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: failure to complete the Offering, failure to obtain final approval for the listing of the Common Shares on the TSX, economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets, continued volatility in the capital markets, the adequacy of the Company's current working capital and the ability of the Company to raise additional funds as required, the occurrence of hostilities, political instability or catastrophic events, developments and changes in laws and regulations, including increased regulation of the mineral exploration and development industries through legislative and other regulator action, closures or slowdowns and changes in labour costs and labour difficulties, including affecting any future exploration or development of the Company's projects, the inability of the Company to expand or identify additional mineral resources on its assets, failure to convert any estimated mineral resources to reserves, the inability of the Company to complete a feasibility study which recommends a production decision, the uncertainty inherent in any future exploration or other results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals necessary for the Company's business plans, and other risks inherent in the mineral exploration and development industry, and other factors discussed under "Risk Factors" in the Supplemented Prospectus.
Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.
SOURCE: Phoenix Metals Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/phoenix-metals-corp.-announces-further-upsize-and-pricing-of-initial-public-offer-1186329
