New Risk • May 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$52k 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 Share price has been highly volatile over the past 3 months (26% average weekly change). Negative equity (-US$52k). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$84.9m market cap, or US$61.4m). Duyuru • May 01
Valhalla Metals Inc. announced that it expects to receive CAD 5 million in funding from Teck Resources Limited, Marubeni Corporation and other investors Valhalla Metals Inc. announced a non-brokered private placement of 7,692,307 subscription receipts at a price of CAD 0.65 per subscription receipt for aggregate gross proceeds of CAD 4,999,999.55 on April 30, 2026. The transaction will include participation from new investors, Teck Resources Limited for CAD 1,750,000 and Marubeni Corporation for CAD 1,700,000 and with lead
orders from major shareholders. The completion of the offering is a condition to the closing of the transaction which is expected to be completed in June 2026. The offering is subject to customary closing conditions. The company may pay finder's fees in connection with the offering, in accordance with applicable securities laws and the policies of the TSX Venture Exchange, if applicable; provided, however, that only 50% of such finder's fees may be payable upon the purchase of subscription receipts, with the remaining finder's fees being payable upon the satisfaction of the escrow release conditions. The subscription receipts, and the common shares issuable upon conversion thereon, will be subject to a four-month hold period under applicable securities laws. Duyuru • Apr 29
Valhalla Metals Inc., Annual General Meeting, Jun 30, 2026 Valhalla Metals Inc., Annual General Meeting, Jun 30, 2026. Location: british columbia, vancouver Canada New Risk • Apr 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$455k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$455k free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$34.1m market cap, or US$24.7m). New Risk • Mar 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 3.4% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$44.9m market cap, or US$32.4m). New Risk • Nov 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (70% average weekly change). Earnings have declined by 3.4% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$41.6m market cap, or US$29.8m). New Risk • Jun 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 20% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.1m market cap, or US$9.56m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • May 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$750k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$750k free cash flow). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.3m market cap, or US$8.16m). Duyuru • Apr 23
Valhalla Metals Inc., Annual General Meeting, Jun 26, 2025 Valhalla Metals Inc., Annual General Meeting, Jun 26, 2025. Location: british columbia, vancouver Canada New Risk • May 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.1m free cash flow). Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$9.73m market cap, or US$7.11m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Duyuru • Apr 12
Valhalla Metals Inc., Annual General Meeting, Jun 14, 2024 Valhalla Metals Inc., Annual General Meeting, Jun 14, 2024. Board Change • Mar 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. CEO, President & Director Sorin Posescu was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 140% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.0m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (140% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$27.0m market cap, or US$19.9m). New Risk • Nov 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.0m free cash flow). Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$9.63m market cap, or US$7.08m). Duyuru • Oct 31
Valhalla Metals Inc. Reports High-Grade Mineralization from Maiden Drill Program At Its Sun Project Including 21M of 6.84% Cueq Valhalla Metals Inc. announced assay results from four diamond drill holes totaling 1,104 m completed during the 2023 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest Alaska. All four drill holes intersected multiple significant mineralized intervals. Highlights Include: Sun23-01 intersected 13.7m of 3.07% CuEq (1.24% Cu, 0.92% Pb, 3.45% Zn, 0.16 g/t Au, and 55.79 g/t Ag);. Sun 23-02 intersected 14.6m of 1.91% CuEq including 10.8m of 2.2% CuEq (0.69% Cu, 0.73% Pb, 2.88% Zn, 0.12 g/t Au, and 53.77 g/t Ag);. The 2023 program included the construction of a new 24-man camp, a LiDAR and orthophotography survey over the Sun and Smucker properties, and a ground gravity survey at Sun. The Company also completed 4 drill holes for a total of 1,104m in addition to relogging 6 historic drill holes totaling 1,416m of core. Final analytical results and drill hole statistics are shown below in the tables. (Cu%) x $Cu x 22.0462)0.91 + ((Pb%) x $Pb x 22.0462) 0.91 + (Au(g/t)/$Ag31.1034768)0.35))/($Cu22.0462); Commodity prices: $Cu = USD 3.00/lb., $Pb = USD 1.00/lb; $Zn = USD 1.10/lb; $Au = USD 1,700/oz., and Ag = USD 20.00/oz.; Recoveries assumed to be 91% Cu, 80% Pb, 91% Zn, 59% Au, 35% Ag and were multiplied for each respective metal. Recoveries are based on the technical report titled "Technical Report on the Sun Project, Brooks Range, Alaska, USA filed on Sedar by the Company on May 18, 2022 and modelled after the recoveries of the neighboring Arctic VMS deposit Feasibility Study; Factors: 22.0462 = Cu% to lbs. per %, 31.1034768 = Au g/t to g per troy oz, and 31.1034768 = Ag g/t to g per Troy oz. Board Change • Oct 13
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. CEO, President & Director Sorin Posescu was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Sep 20
Valhalla Metals Inc. Announces the Completion of the 2023 Exploration Program at its Sun Project Located in the World Class Ambler Mining District, Northwest Alaska Valhalla Metals Inc. announce the completion of the 2023 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest Alaska. The 2023 program included the construction of a new 24-man, LiDAR and orthophotography over the Sun and Smucker properties, and a ground gravity survey at Sun. The Company also completed 4 drill holes for a total of 1,104m in addition to relogging 6 historic drill holes totalling 1,416m of core. Final analytical results are pending and expected to be completed in the upcoming weeks. Board Change • Sep 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. CEO, President & Director Sorin Posescu was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$3.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.2m free cash flow). Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.8m market cap, or US$8.73m). Board Change • Aug 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. CEO, President & Director Sorin Posescu was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jul 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$11.2m (US$8.49m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.2m market cap, or US$8.49m). Duyuru • Jul 22
Valhalla Metals Inc. Initiates Maiden Drill Program At Its Sun Project Valhalla Metals Inc. announced the start of the 2023 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest Alaska. The 2023 program includes 3,000 - 4,000 metres of planned drilling using two drill rigs, LiDAR and orthophotography over the Sun and Smucker properties, and a ground gravity survey at Sun. The Company has engaged Major Drilling to execute the exploration drilling at the Sun project. Major Drilling has a long history of experience and success drilling in the Ambler Mining District. Sun Project Work Program. The Company has recently completed the construction of a 24-man camp at the Sun project and mobilization of all equipment to support a plan of 3,000-4,000 metres of drilling. The 2023 exploration program at the Sun project will be one of the largest programs in the history of the project, and the first drilling program on the property in over 10 years. This year's diamond core drilling program will focus mainly on resource expansion at the Main Sun and SW Sun copper-zinc-silver-lead-gold volcanogenic massive-sulfide deposits. This drilling campaign is designed to test for mineralization continuity along strike and down dip, in addition to testing for mineralization continuity between Main Sun and SW Sun deposits. The Sun deposit is ripe for expansion. A detailed evaluation of the VTEM survey indicates strong conductors. between Sun and SW Sun, along strike and down dip. The deposit has long been drilled to a down dip depth of 200 meters, where as VMS deposits typically extend for kilometers down-dip and along strike. The company see the potential to greatly expand the resource footprint with this summer's program and look forward to updating shareholders and investors later in the year, so stay tuned. Board Change • Jul 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. CEO, President & Director Sorin Posescu was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 08
Valhalla Metals Inc. Provides Update on the Sun Project and the Ambler Mining District Access Road Valhalla Metals Inc. provided an update on the Sun Project and the Ambler Mining District Access Road. A work program at the 24-man Sun project camp was completed during September 2022 and consisted of fixing snow-damaged tents, clearing areas for new tents and full inventory of work required to make the camp fully operational for the 2023 exploration program. A full camp re-build and expansion is planned to be completed by June 2023 in anticipation of supporting a 5,000m drilling program designed to confirm and expand on known VMS copper-zinc-lead-gold-silver resources at the Sun and SW Sun zones and test several other newly identified high-quality targets. The Company welcomes the recent bi-partisan support from the U.S Senators Lisa Murkowski and Dan Sullivan, both R-Alaska and U.S. Representative Mary Peltola, D-Alaska, for the proposed 211-mile, industrial-use-only road from the Ambler Mining District to the Dalton Highway (Ambler Road). The Ambler District is host to the world-class 40MT Arctic VMS deposit and development of the district was promised by Congress when they passed Alaska National Interest Lands Conservation Act (ANILCA) in 1980, where Section 201 (4-b) states "Congress finds that there is need for access for surface transportation purposes across the Western (Kobuk River) unit of the Gates of the Arctic National Preserve (from the Ambler Mining District to the Alaska Pipeline Haul Road) and the Secretary shall permit such access in accordance with the provisions of this subsection" emphasis added. The proposed Ambler Road is planned to cross Valhalla State mining claims at the Sun project and would unlock a host of critical and strategic metals necessary for the green energy and transportation transition. Duyuru • Oct 20
Valhalla Metals Inc. Ordinary Shares to Be Deleted from OTC Equity Valhalla Metals Inc. Ordinary Shares will be deleted from OTC Equity effective from October 19, 2022, due to Inactive Security. 