J2 Metals Inc. Announces Closing of Flow- Through Private Placement
J2 Metals Inc. Announces Closing of Flow-
Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - J2 Metals Inc. (TSXV: JTWO) (FSE:
OO1) ("
J2
" or the "
Company
") announces that further to its previous press releases, it has closed the
second and final tranche of its non-brokered flow-through private placement financing (the "
FT
Subscription Receipt Offering
") through the issuance of 1,017,143 flow-through common shares (the
"
FT Shares
") at a price of $0.35 per FT Share for aggregate gross proceeds of $356,000.
The FT
Subscription Receipt Offering was initially subject to escrow release conditions but those were satisfied
on April 28, 2026, prior to the closing of this second tranche. Therefore, all securities issued under the
FT Subscription Receipt Offering are free of any escrow.
The Company closed the first tranche of the FT Subscription Receipt Offering on February 23, 2026, for
gross proceeds of $478,000. Together with the second tranche, the Company raised aggregate gross
proceeds of $834,000 pursuant to the FT Subscription Receipt Offering.
Each FT Share issued pursuant to the second tranche of the FT Subscription Receipt Offering will be
issued on a flow-through basis pursuant to the Income Tax Act (Canada). No warrants will be issued in
connection with the FT Subscription Receipt Offering.
In connection with the second tranche of the FT Subscription Receipt Offering, the Company paid finders
fees in the aggregate of $24,920 in cash.
The FT Subscription Receipt Offering is subject to the receipt of all necessary regulatory and other
approvals, including, but not limited to, acceptance of the TSX Venture Exchange. All securities issued
pursuant to the second tranche of the FT Subscription Receipt Offering are subject to a hold period of
four months and one day after the date of closing of the second tranche of the FT Subscription Receipt
Offering. The net proceeds from the FT Subscription Receipt Offering will be used to explore and
advance the Company's Miniac Project and for general corporate purposes.
Simon Clarke, a director of the Company, participated in the first tranche of the FT Subscription Receipt
Offering by purchasing 100,000 FT Shares for an aggregate subscription amount of $35,000. Toby
Pierce, a director of the Company, participated in the first tranche of the FT Subscription Receipt
Offering by purchasing 144,857 FT Shares for an aggregate subscription amount of $50,700. Also, in
accordance with the Company's previously closed $0.25 non-brokered private placement (the
"
Subscription Receipt Offering
") on February 5 and 6, 2026, Simon Clarke, a director of the
Company, participated in the first and second tranche of the Subscription Receipt Offering by
purchasing 60,000 and 504,000 subscription receipts, respectively, for an aggregate subscription
amount of $141,000. The 504,000 subscription receipts acquired in the second tranche were purchased
through Alisa Craig Capital Ltd., a company controlled by Mr. Clarke. Ponarth Consulting Group Inc.
("
PCG
") is an insider of the Company by virtue of Ivan Riabov, CFO of the Company, controlling PCG,
and participated in the second tranche of the Subscription Receipt Offering by purchasing 136,000
subscription receipts for an aggregate subscription amount of $34,000. Accordingly, both the FT
Subscription Receipt Offering and the Subscription Receipt Offering constitute a "related party
transaction" for the Company within the meaning of Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions ("
MI 61-101
"). The Company is exempt from the requirements
to obtain a formal valuation and minority shareholder approval under MI 61-101 as the fair market value
of each of the insider's participation in the FT Subscription Receipt Offering and Subscription Receipt
Offering does not exceed more than 25% of the market capitalization of the Company, as set forth in
Sections 5.5(a) and 5.7(1)(a) of MI 61-101.
In accordance with the Company's previously closed $0.12 non-brokered private placement, following
satisfaction of the escrow release conditions on April 28, 2026, the Company paid finder's fees in the
aggregate of $7,719.60 in cash and 64,330 warrants at a price of $0.25 per share exercisable for a
period of 24 months following the date of conversion of the subscription receipts.
About J2 Metals Inc.
J2 Metals Inc. (TSXV: JTWO) (FSE: OO1) is advancing gold and silver exploration projects with
historical production or significant drill results in established mining jurisdictions in Mexico, Québec, and
Alaska. The Company's Sierra Plata silver-gold-antimony project in Zacualpan, Mexico hosts multiple
past-producing silver-gold mines, confirming its high-grade mineral endowment.
Recent sampling of
waste dumps at Sierra Plata returned grades of up to 3,932 g/t AgEq. At the Miniac Project in Québec's
Abitibi Greenstone Belt, historical and Phase I drilling have confirmed strong discovery potential, with
reported grades of up to 4.8 g/t gold and 6.9% zinc over 0.3m (DDH DV-80). Recent high-resolution
geophysical surveys have identified 19 high-priority targets along a largely untested 7-kilometre
conductive horizon, which will be evaluated in a planned Phase II drill program. The Napoleon Project in
the Fortymile district of Alaska is located within a prolific placer gold camp that has produced up to one
million ounces of gold, with known hard-rock mineralization limited to the Napoleon area. Rock-chip
samples grading up to 596 g/t gold, together with historical drilling by Teck and Kennecott reporting
intercepts such as 8.9 g/t gold over 3m and 0.9 g/t gold over 79m, indicate a robust mineralizing system
with district-scale discovery potential.
Qualified Person
The technical information contained in this release has been reviewed and approved by Graham Giles,
P.Geo., J2's VP Exploration, who is a Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
For further information, please contact:
Thomas Lamb
CEO and Director
J2 Metals Inc.
E-Mail:
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the
TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to, statements regarding
the Company's exploration plans, potential drill targets, anticipated exploration results, and the timing
and success of future exploration programs. Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made and are subject to a number
of risks and uncertainties that could cause actual results to differ materially from those anticipated.
These risks and uncertainties include, but are not limited to, geological risk, exploration risk,
fluctuations in commodity prices, operational risks, regulatory approvals, and general market and
economic conditions. Readers are cautioned not to place undue reliance on forward-looking
statements. The Company undertakes no obligation to update or revise forward-looking statements,
except as required by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/297567