Perseverance Metals Announces C$8 Million Private Placement Financing
Perseverance Metals Announces C$8 Million
Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia--(Newsfile Corp. - September 15, 2026) -
Perseverance Metals
Inc.
(TSXV: PMI) ("
Perseverance
" or the "
Company
") is pleased to announce that it will complete a
non-brokered private placement financing of up to C$8,000,005 (the "
Offering
"). The Offering will
consist of common shares of the Company (each, a "
Share
") priced at C$0.65 per Share. The
Company intends to use the net proceeds of the Offering to fund the ongoing diamond drill campaign at
the Voyageur project in the Upper Peninsula of Michigan, continued exploration of the Lac Gayot project
in Québec, and for general corporate purposes.
All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and
one day in accordance with applicable Canadian securities laws, in addition to such other restrictions as
may apply under applicable securities laws of jurisdictions outside Canada. The Offering is subject to
certain conditions, including the receipt of TSX Venture Exchange ("
TSXV
") approval. Completion is
targeted for early October, 2026.
The Company may pay finder's fees to eligible finders in connection with the Offering, subject to
compliance with applicable securities laws and TSXV policies.
Insiders of the Company may participate in the Offering. Any such participation will be considered a
"related party transaction" as defined under Multilateral Instrument 61-101. The Company expects that
any insider participation will be exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101, as neither the fair market value of the securities issued to insiders, nor the
consideration paid by insiders is expected to exceed 25% of the Company's market capitalization.
The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
About Perseverance Metals
Perseverance Metals is a critical minerals explorer with a project portfolio that is strategically located in
key North American Ni-Cu-Co-PGE and hard rock lithium regions, including Michigan's Mid-Continent
Rift and Québec's prolific James Bay district.
Our strict science-driven approach and extensive track record of discovery as leveraged via an
exceptional technical advisory board, coupled with an industry-leading team armed with next-generation
exploration tools, provide us with a distinct competitive advantage. This offers a unique opportunity for
investors to be exposed to a portfolio of projects with the potential for multiple discoveries.
Perseverance's exploration assets include:
i
.
the
Voyageur
Ni-Cu-Co-PGE project, which covers 680 km
2
of the Upper Peninsula of Michigan,
65 kilometres west of the only producing nickel mine in the United States. The Company's
inaugural drill program on the Voyageur project is currently underway;
ii
.
the
Lac Gayot
high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety
of the 30km Venus Greenstone Belt in Québec, featuring multiple, very high-grade Ni-Cu-Co-PGE
showings and zones and numerous spodumene-bearing pegmatites, and;
iii
.
the
Armit Lake
Ni-Cu-Co project, which is the consolidated and underexplored western half of the
nickel- and gold-rich Savant Lake Greenstone Belt in Ontario.
Additional information about Perseverance Metals can be found at
perseverancemetals.com
.
On Behalf of the Board,
Michael J. Tucker
CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Perseverance Metals Inc.
Michael J. Tucker, CEO
+1 (778) 834-3528
Perseverance Metals Inc.
John Foulkes, President
+1 (604) 614-2999
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or may
occur in the future, including expectations regarding the Offering and its completion; the intended use
of proceeds from the Offering; the targeted closing date; the receipt of regulatory approvals, including
TSXV approval ; and the Company's exploration and business plans, and the cost and timing thereof
.
Generally, but not always, forward-looking information and statements can be identified by the use of
words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the Offering will be completed on the terms and timeline described in this release;
that the Company will use proceeds from the Offering as anticipated; that all requisite approvals,
including TSXV approval, will be received; and that the Company's exploration and business plans,
and the cost and timing thereof, will not change significantly from management's current expectations.
Although the assumptions made by the Company in providing forward-looking information or making
forward-looking statements are considered reasonable by management at the time, there can be no
assurance that such assumptions will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's plans or expectations include risks that the Offering will
not be completed on the terms and timeline described in this release, or at all; that the Company will
not use proceeds from the Offering as anticipated; that the Company will not receive all requisite
regulatory approvals, including TSXV approval ; and that the Company's exploration and business
plans, and the cost and timing thereof, may change significantly from management's current
expectations.
Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated, estimated
or intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information.
Neither 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/314370