J2 Metals Inc. Announces Upsized Private Placement and Additional Flow-Through Financing
J2 Metals Inc. Announces Upsized Private
Placement and Additional Flow-Through
Financing
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2026) - J2 Metals Inc. (TSXV: JTWO) ("
J2
"
or the "
Company
") announces that due to demand it intends to complete an upsized non-brokered
private placement for aggregate gross proceeds of up to $5,300,000, consisting of: (i) $3,800,000
raised through the issuance of subscription receipts (the "
Subscription Receipts
") at a price of $0.25
per Subscription Receipt (the "
Subscription Receipt Offering
"); and (ii) up to $1,500,000 raised
through the issuance of flow-through subscription receipts (the "
FT Subscription Receipts
") at a price
of $0.35 per FT Subscription Receipt (the "
Flow-Through Offering
", and together with the Subscription
Receipt Offering, (the "
Offering
").
Each Subscription Receipt issued pursuant to the Subscription Receipt Offering will entitle the holder
thereof to receive, upon satisfaction of the escrow release conditions that include completion of the
Company's previously announced plan of arrangement between the Company and Twenty Mile Metals
Inc., and without payment of any additional consideration or further action on the part of the holder, one
common share in the capital of the Company and one-half of one common share purchase warrant. Each
whole warrant will entitle the holder to purchase one common share at an exercise price of $0.40 per
share at any time for a period of 24 months following the date of conversion of the Subscription
Receipts.
Each FT Subscription Receipt will entitle the holder thereof to receive, upon satisfaction of the same
escrow release conditions, and without payment of any additional consideration or further action on the
part of the holder, one common share in the capital of the Company. No warrants will be issued in
connection with the Flow-Through Offering. The common shares underlying the FT Subscription Receipts
will be issued on a flow-through basis pursuant to the Income Tax Act (Canada).
The gross proceeds from the sale of the Subscription Receipts and FT Subscription Receipts will be
held in escrow pending satisfaction of the escrow release conditions. If the escrow release conditions
are not satisfied, the escrowed funds will be returned to the holders of the Subscription Receipts and FT
Subscription Receipts, together with any accrued interest thereon, and such securities shall be cancelled
without any further action by the holders thereof.
The Subscription Receipts, FT Subscription Receipts, and the securities issuable upon conversion
thereof will be subject to a statutory hold period of 4 months and one day from the date of issuance, in
accordance with applicable securities laws.
The Company may pay finders' fees in connection with the Offering. Completion of the Offering is subject
to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals,
including acceptance of the TSX Venture Exchange.
The net proceeds from the Subscription Receipt Offering will be used to explore and advance the
Company's Projects and for general corporate purposes. An amount equal to net proceeds from the FT
Subscription Receipt Offering will be used by the Company to incur eligible "Canadian exploration
expenses" that will qualify as "flow-through critical mining expenditures" as such terms are defined in the
Income Tax Act (Canada) (the "
Qualifying Expenditures
") related to the Company's project in Quebec,
Canada, on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the
subscribers effective December 31, 2026.
About J2 Metals Inc.
J2 Metals Inc. (TSXV: JTWO) 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 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.
This release shall not constitute an offer to sell or the solicitation of an offer to buy the common
shares, nor shall there be any sale of the common shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or qualification under the securities laws
of any such jurisdiction. The Units being offered will not be, and have not been, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, a U.S. person.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES
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