HIGHLIGHTS
- Non-brokered private placement of 7,900,000 units at $0.105 per unit for gross proceeds of $829,500. Each unit comprises one common share and one whole share purchase warrant exercisable at $0.15 for three years - a further $1,185,000 to the Company if exercised in full.
- Mr. Jason Bontempo proposed for appointment to the board - Chief Executive Officer of Gladiator Metals Corp. (TSXV: GLAD), chartered accountant, and a director of listed resource companies on the ASX, AIM and TSX Venture exchanges with more than twenty years in resource financing and transactions.
- Mr. Marcus Harden proposed for appointment to the board - President of Gladiator Metals Corp., formerly Principal Geologist at First Quantum Minerals, with key technical roles in multiple gold discoveries that have advanced to mining across Asia, West Africa, Australia and the Americas.
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - Spartacus Metals Inc. (TSXV: SPAR) (formerly Dixie Gold Inc.) ("Spartacus" or the "Company") is pleased to announce a non-brokered private placement of 7,900,000 units of the Company (each, a "Unit") at a price of $0.105 per Unit for gross proceeds of $829,500 (the "Offering").
Each Unit comprises one common share (each, a "Share") of the Company and one whole common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Share at an exercise price of $0.15 for a period of three years from the date of issue. If exercised in full, the Warrants would provide the Company with further proceeds of $1,185,000.
All securities issued under the Offering are subject to a statutory hold period of four months and one day from the closing date.
No finder's fees are presently contemplated in connection with the Offering however the board reserves the right to pay broker fees and increase the placement amount.
The Company intends to use the proceeds of the Offering for the transfer of the Torp Lithium licence into the name of the Company and related registration in Nunavut; the settlement of accrued professional, audit and filing costs; the engagement of a Qualified Person, assessment of potentially new acquisitions and a data compilation programme across the Company's properties; corporate website and investor materials; and general working capital and administration expenses.
COMMENTARY
Rocco Tassone, Chief Executive Officer
"This financing puts Spartacus on a funded footing and allows the Company to get on with the work that matters: completing the Torp licence transfer, engaging a Qualified Person and adequately assessing our portfolio of assets across Lithium, Copper and Gold. Just as importantly, it brings forward two proposed directors of real standing - a financier and a geologist with a strong track record across both Canadian and Australian stock exchanges. Their support is a strong endorsement of the portfolio we hold and of the direction the Company is taking."
- Rocco Tassone, Chief Executive Officer Spartacus Metals Inc.
Proposed Board Appointments
The Company also announces that, conditional upon closing of the Offering and upon acceptance by the TSX Venture Exchange (the "Exchange"), Mr. Jason Bontempo and Mr. Marcus Harden are proposed for appointment to the board of directors of the Company.
Conditional upon closing of the Offering and upon acceptance by the Exchange of their respective Personal Information Forms, the Company proposes to appoint Mr. Jason Bontempo and Mr. Marcus Harden as directors. In connection with the appointments, Mr. Kulwant (Kal) Malhi has indicated his intention to resign from the board. The Company thanks Mr. Malhi for his service and for his contribution during the Company's transition. Ms. Nancy Boufeas will continue as a director. On completion of the changes the board will comprise four directors.
Mr. Bontempo is a chartered accountant, qualified with Ernst & Young, with more than twenty years' experience in public company management, corporate advisory, investment banking and resource company accounting across Australia, the United Kingdom and Canada. He has served on the boards and in the executive of listed minerals companies on the ASX, AIM and TSX Venture exchanges, and his practice over that period has been the financing of resource companies and the acquisition and divestment of resource assets.
Mr. Bontempo has been Chief Executive Officer and a director of Gladiator Metals Corp. (TSXV: GLAD) since 2021, at which time Gladiator was a small TSX Venture issuer. In November 2022 Gladiator secured an option to acquire the Whitehorse Copper Project in the Yukon - a district-scale land package on a past-producing copper belt - on staged terms requiring limited cash at the outset. He has since led financings for that company totalling more than C$65 million, comprising a C$7.55 million brokered private placement in 2023, an upsized C$22.5 million bought deal private placement in September 2025 and a C$35 million institutional private placement led by BlackRock which closed in July 2026. Gladiator applied in August 2026 to list on the National Stock Exchange of Australia. The Company considers that experience - securing a substantial asset on affordable terms and then funding it through to institutional participation - to be directly applicable to Spartacus.
Mr. Harden is a geologist with more than twenty years of global exploration and management experience across both precious and base metals. He was formerly Principal Geologist at First Quantum Minerals, one of the world's largest copper producers, and has held key technical roles in a number of gold discoveries with ASX- and TSX-listed exploration companies. Several of those projects have progressed to mining, including Tanjianshan in China, Tabakoroni in Mali, Wahgnion in Burkina Faso and Bellevue in Australia. He has also contributed to discoveries now in development, including Pickle Crow in Ontario and Arakaka in Guyana.
Mr. Harden is currently President of Gladiator Metals Corp., where he has directed the exploration programmes on the Whitehorse Copper Project that have underpinned that company's progress since 2023, and he is a non-executive director of Many Peaks Minerals Ltd. (ASX: MPK). His experience is weighted towards the reinterpretation of historic mining districts and the identification of new mineralisation within them, which is the exercise facing the Company across its Ontario ground. His work at Pickle Crow relates to the same northwestern Ontario district in which the Company holds its Pickle Crow East claims.
Taken together, the proposed appointments would give the Company technical capability at board level for the first time since June 2026, alongside capital markets experience in both Canada and Australia and access to an investor base familiar with Canadian exploration assets. The appointment of each of Mr. Bontempo and Mr. Harden remains subject to the acceptance of the Exchange, and each will take effect on the later of the closing of the Offering and such acceptance.
Strategy and Portfolio Review
The Company holds a portfolio of gold, copper and lithium exploration assets in Ontario, the Northwest Territories and Nunavut. Its strategy is to hold that portfolio on a low-cost basis while directing capital to the assets capable of delivering the greatest return, and to realise value from the remainder rather than carry it indefinitely.
Consistent with that approach, the Company continues to review opportunities to advance, joint venture, option, sell or otherwise monetise individual assets within its portfolio, and to assess the acquisition of additional assets where the terms are attractive relative to the Company's size. That review is ongoing and extends to each of the Company's projects. The strengthened treasury resulting from the Offering, together with the addition of the proposed directors, is expected to place the Company in a materially better position to progress those discussions from a position of choice rather than necessity.
The Company will not proceed with any transaction unless it is satisfied that the terms are in the interests of shareholders as a whole, and will announce any material transaction in accordance with the policies of the Exchange and applicable securities laws. Shareholders and prospective investors are cautioned that the review described above is preliminary and ongoing, that no agreement has been reached in respect of any asset, and that there can be no assurance that the review will result in any transaction.
AUTHORISATION
Approval & Release
This news release has been approved for release by the Board of Directors of Spartacus Metals Inc.
| Rocco Tassone Chief Executive Officer & Corporate Secretary Spartacus Metals Inc. | INVESTOR & MEDIA CONTACTS T: 604.687.2038 E: rocco@gttventures.com.au |
ABOUT
Spartacus Metals Inc. (TSXV: SPAR) is a publicly traded junior exploration company holding a portfolio of gold, copper and lithium exploration projects across Canada. For more information, please visit https://dixiegold.ca/.
| 01 GOLD Red Lake & Pickle Crow East Ontario, Canada Gold exploration claims in the Red Lake district, neighbouring Great Bear, and at Pickle Crow East in northwestern Ontario. | 02 COPPER Soo East Ontario, Canada Copper exploration claims staked in 2025 near Sault Ste. Marie, Ontario. | 03 LITHIUM Phoenix & Torp NWT & Nunavut, Canada Lithium leases in the Northwest Territories and Nunavut, with historical assessment work on public record. |
DISCLAIMER
Neither the 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 release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the closing of the Financing. Actual results may differ materially from these currently expected or forecast in such statements.
Neither the 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 release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313756
