Board Change • Apr 10
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Geoff Lawrence is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$33.9m market cap, or US$24.7m). Announcement • Dec 09
South Pacific Metals Corp. announced that it has received CAD 7.99956 million in funding On December 8, 2025, South Pacific Metals Corp. closed the best-effort transaction. The company issued 14,814,000 units at an issue price of CAD 0.54 for gross proceeds of CAD 7,999,560. The company has granted 15% option to the agents to purchase additional 2,222,100 units. The transaction includes participation from certain officers and directors. The offering was conducted pursuant to an agency agreement between the company and the agents. The units issued under the offering pursuant to the listed issuer financing exemption are not subject to resale restrictions. Units issued to certain directors and officers are subject to hold period. The offering remains subject to a number of customary conditions, including the final approval of the TSXV. The offering involved the issuance of 378,000 units (for a subscription amount of CAD 204,120) to related parties. Pursuant to the agency agreement, the agents received a cash commission of CAD 491,969.65 in connection with the offering. 
