J2 Metals Inc. Announces Completion of $520,000 Subscription Receipt Financing by Twenty Mile Metals Inc.
J2 Metals Inc. Announces Completion of
$520,000 Subscription Receipt Financing by
Twenty Mile Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2026) - J2 Metals Inc. (TSXV: JTWO) ("
J2
" or
the "
Company
") is pleased to announce, further to its press release dated April 20, 2026, that Twenty
Mile Metals Inc. ("
MILE
") has raised an aggregate of $520,000 as part of its private placement of
subscription receipts (each a "
Subscription Receipt
").
An aggregate of 5,200,000 Subscription Receipts were issued at a price of $0.10 per Subscription
Receipt. Each Subscription Receipt entitles the holder, without further action or payment of additional
consideration, upon the satisfaction of certain release conditions, to receive one unit (each a "
Unit
").
The release conditions applicable to the Subscription Receipts include, among other things, receipt of
conditional approval of the TSX Venture Exchange (the "
TSXV
") for the listing of the common shares of
MILE.
Each Unit will consist of one common share of MILE and one share purchase warrant (each a "
Warrant
).
Each Warrant will be exercisable to acquire an additional MILE share at a price of $0.15 per share for a
period of 36 months. If the closing price of the MILE shares exceeds $0.25 per share for a period of 10
consecutive trading days, MILE may accelerate the expiry date of the Warrants to a date that is 30 days
following the issuance of a press release announcing such acceleration. The Subscription Receipts and
the underlying Units, when initially issued, were subject to an indefinite hold period pursuant to National
Instrument 45-102 -
Resale of Securities
. Following completion of the plan of arrangement between J2
and MILE, the Units (including the underlying common shares and Warrants), when issued, will not be
subject to a hold period under applicable securities legislation in Canada.
MILE reserves the right to issue additional Subscription Receipts prior to listing. Any additional
Subscription Receipts issued will be subject to a four month and one day hold period.
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. 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable securities legislation.
Forward-looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or
statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved.
Forward-looking statements in this news release include, but are not limited to: the satisfaction of the
release conditions in respect of the Subscription Receipts; the completion of the plan of arrangement
between J2 and MILE; the listing of MILE's common shares on the TSXV; the anticipated use of
proceeds; the issuance of Units; and the Company's planned exploration activities. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the
beliefs, opinions and projections on the date the statements are made and are based upon a number
of assumptions and estimates that, while considered reasonable by J2, are inherently subject to
significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or achievements that are or may be expressed or
implied by such forward-looking statements and the parties have made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation, the ability to
complete proposed exploration work, the results of exploration, continued availability of capital, and
changes in general economic, market and business conditions. Readers should not place undue
reliance on the forward-looking statements and information contained in this news release concerning
these items. J2 does not assume any obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by applicable securities
laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
securities in the United States and is not intended for distribution to U.S. newswire services or
dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/294074