J2 Metals Inc. Completes $3.8 Million Upsized Private Placement
J2 Metals Inc. Completes $3.8 Million Upsized
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 6, 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 $3,800,000 non-brokered private placement financing (the "
Subscription
Receipt Offering
"), which was upsized from $2,500,000, at a price of $0.25 per Subscription Receipt
(the "
Subscription Receipts
").
Today's second tranche was comprised of 6,577,800 Subscription Receipts for aggregate gross
proceeds of $1,644,450. Yesterday the Company closed the first tranche of the Subscription Receipt
Offering for gross proceeds of $2,155,550.
Thomas Lamb, J2's CEO, commented:
"This is an excellent result and a great foundation for our
Company. Next, we are raising critical minerals flow-through at $0.35 per share to advance our 100%-
owned Miniac Project in Quebec's Abitibi Greenstone Belt. We will be moving briskly there to conduct
3D IP and Phase II drilling."
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.
The gross proceeds from the sale of the 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, together with any accrued
interest thereon, and such securities shall be cancelled without any further action by the holders thereof.
The Company intends to use the net proceeds of the Subscription Receipt Offering for general corporate
purposes.
In connection with the second tranche of the Offering, the Company will pay a finder's fees, pending
satisfaction of the escrow release conditions, of $75,985 in cash and 303,940 warrants at a price of
$0.40 per share exercisable for a period of 24 months following the date of conversion of the
Subscription Receipts.
The Subscription Receipt Offering is subject to the approval of the TSX Venture Exchange. All securities
issued pursuant to the second tranche of the Subscription Receipt Offering, including common shares
issuable upon the exercise of warrants or finder warrants, are and will be subject to a hold period of four
months and one day after the date of closing of the second tranche of the Subscription Receipt Offering.
Thomas Lamb, Toby Pierce, and Graham Giles are insiders of the Company and participated in the
second tranche of the Subscription Receipt Offering by purchasing 300,000, 136,000, and 168,000
Subscription Receipts, respectively, for an aggregate subscription amount of $151,000. Accordingly, the
Subscription Receipt Offering constitutes 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 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.
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 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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https://www.newsfilecorp.com/release/283084