Edmonton, Alberta--(Newsfile Corp. - October 16, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") is pleased to announce that it has closed (the "Closing") its previously announced rights offering (the "Rights Offering") to eligible holders (the "Shareholders") of its common shares (each, a "Common Share"). At Closing, the Company had 153,099,226 Common Shares issued and outstanding, including 76,524,613 Common Shares issued pursuant to the Rights Offering at a price of $0.01 per Common Share for aggregate gross proceeds of $765,246.13.
The Rights Offering expired at 4:00 p.m. (Vancouver time) (the "Expiry Time") on October 9, 2026 (the "Expiry Date"), after which time unexercised rights (the "Rights") became void.
As previously announced, in connection with the Rights Offering, the Company entered into a standby guarantee agreement ("Standby Agreement") with 1357508 B.C. Ltd. ("135 BC Ltd.") and Nico Consulting Inc. ("Nico" and together with 135 BC Ltd., the "Standby Guarantors") pursuant to which the Standby Guarantors agreed to subscribe for such number of Common Shares as necessary to guarantee the Rights Offering resulted in gross proceeds to the Company of not less than $765,246.13 (the "Standby Guarantee").
As the Additional Subscription Privilege was oversubscribed, the Standby Guarantors did not purchase any Common Shares pursuant to the Standby Guarantee.
In consideration for providing the Standby Guarantee, the Company paid to the Standby Guarantors an aggregate standby fee of $38,262.30 ($19,131.15 to 135 BC Ltd. and $19,131.15 to Nico) and issued to them an aggregate of 7,652,460 non-transferable Common Share purchase warrants (the "Bonus Warrants"), entitling them to purchase (in aggregate) a total of 7,652,460 Common Shares (3,826,230 Bonus Warrants to 135 BC Ltd. and 3,826,230 Bonus Warrants to Nico), at a price of $0.18 per Common Share at any time prior to 4:00 p.m. (Vancouver time) on October 9, 2031.
No Common Shares were distributed to insiders under the Basic Subscription Privilege nor the Additional Subscription Privilege. 35,189,297 Common Shares were distributed to all other persons as a group under the Basic Subscription Privilege and 41,335,316 Common Shares were distributed to all other persons as a group under the Additional Subscription Privilege. To the knowledge of the Company after reasonable inquiry, no person that was not an insider of the Company before the Rights Offering became an insider as a result of the Rights Offering.
The proceeds of the Rights Offering are expected to be used for exploration expenditures on the Company's Turvolandia Rare Earth Project in Brazil, mineral claim management expenses for the Company's properties in Colorado and Wyoming and for general and administrative expenses. The Company also notes that it will continue to pursue other capital raising initiatives.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Canamera
Canamera Energy Metals Corp. is a critical minerals exploration company building a diversified portfolio of interests in energy metals and rare earth element ("REE") projects across the Americas, including the Rare Earth Ridge REE-niobium project and options on the Schryburt Lake, Waterslide, and Garrow REE and niobium projects in Ontario, the Great Divide Basin uranium project in Wyoming, the Turvolândia and São Sepé REE projects in Brazil, and the Mantle project in British Columbia. Across this portfolio, Canamera targets underexplored regions with strong geological signatures and supportive jurisdictions, applying geochemical, geophysical, and geological datasets to generate and advance high-conviction, first-mover exploration targets. For more information, visit www.canamerametals.com.
INVESTOR RELATIONS CONTACT
Brad Brodeur
Chief Executive Officer
brad@canamerametals.com
780-238-7163
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, statements regarding the anticipated use of proceeds, the Company's intention to pursue other capital raising initiatives and the anticipated timing of any additional equity offering. Forward-looking information is generally identifiable by use of words such as "anticipates", "expects", "believes", "plans", "intends", "estimates", "will", "may" or similar expressions. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is based on a number of estimates and assumptions that, while considered reasonable by the Company as of the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These assumptions include, without limitation, the Company's ability to complete any additional equity offering on the timeline anticipated or at all and the availability and use of the proceeds as anticipated.
Known and unknown risks, uncertainties and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information, including, without limitation, the Company not realizing the anticipated benefits of the Rights Offering or using the proceeds as anticipated, general business, economic, competitive, political and social uncertainties, the speculative nature of mineral exploration, any additional equity offering not being completed within the timeline anticipated or at all, or being completed on terms that differ from those currently anticipated and other risks and uncertainties described in the Company's public filings available on SEDAR+. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. news wire services or dissemination in the United States.
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