Announcement • 19h
Power Metallic Mines Inc. announced that it has received CAD 28.22875 million in funding from 2176423 Ontario Ltd. On June 10, 2026, Power Metallic Mines Inc. closed the transaction. The transaction consists of issuance of 22,583,000 common shares of the Company at an issue of CAD 1.25 for gross proceeds of CAD 28,228,750. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned and controlled by him, acquired 1,600,000 offered Shares under the offering for total consideration of CAD 2,000,000. As consideration for their services, the agents received an aggregate cash fee of CAD 1,443,225. The closing of the Offering remains subject to the final approval of the TSX Venture Exchange. New Risk • Jun 02
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$1.5m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$1.5m). Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Announcement • May 29
Power Metallic Mines Inc. announced that it expects to receive CAD 25 million in funding Power Metallic Mines Inc. announced a best efforts private placement to issue 20,000,000 common shares at an issue price of CAD 1.25 for the proceeds of CAD 25,000,000 on May 28, 2026. The Company also grants the Agents an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional 2,400,000 Offered Shares at the Offering Price for up to an additional CAD 3,000,000 in gross proceeds. The Offering is anticipated to close on June 10, 2026, or such other date as the Company and Red Cloud may agree. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange 
