Casa Minerals Inc. has proposed a non-brokered private placement aiming for gross proceeds of up to $4 million to fund exploration across its portfolio.

The financing consists of two distinct components. Casa Minerals plans to issue up to 25 million flow-through units at $0.10 per unit to raise up to $2.5 million, alongside up to 21,428,571 non-flow-through units at $0.07 per unit to raise up to $1.5 million.

Each flow-through unit comprises one common share and one-half of a non-flow-through purchase warrant. Each whole warrant allows the holder to acquire an additional common share at $0.15 for 24 months. Non-flow-through units include one common share and one full purchase warrant exercisable at $0.125 for 24 months.

Casa Minerals can accelerate the expiry of the warrants if the volume-weighted average trading price of its common shares reaches or exceeds $0.20 for five consecutive trading days. In that scenario, the warrants will expire 30 days after the company issues a press release providing written notice.

Proceeds from the flow-through component will support Canadian exploration expenses that qualify as flow-through mining expenditures, with Casa Minerals intending to renounce those expenditures to subscribers for the fiscal year ending December 31, 2027. Funds raised from the non-flow-through units will be directed toward general working capital and exploration activities on the company's properties.

All securities issued under the placement will be subject to a four-month hold period. The transaction remains conditional upon the acceptance of the TSX Venture Exchange and may include finder's fees and insider participation.

Casa Minerals holds the Congress Gold Mine Project in Arizona and the Arsenault Project in British Columbia. The company plans to use the capital to execute its 2026 field and drilling program across priority exploration zones at Congress, including Echo Bay, Malartic, and New Congress Niagara.

Read the full announcement: Casa Minerals Inc. Announces up to $4 Million Non-Brokered Private Placement