Hertz Energy Inc. has launched a non-brokered private placement aiming to raise up to C$3 million in gross proceeds while advancing exploration across its Canadian portfolio, headlined by the completion of a high-resolution geophysical survey at the Lake George Antimony-Tungsten Project in New Brunswick.

The financing comprises units priced at C$0.20 to raise up to C$1.5 million, alongside flow-through common shares priced at C$0.28 to raise a further C$1.5 million. Proceeds from the units will fund ongoing exploration and general working capital, while funds raised through the flow-through shares will be directed toward eligible Canadian exploration expenses. Closing of the offering remains conditional on final approval from the Canadian Securities Exchange.

At Lake George, the company completed a 1,173-line-kilometre airborne magnetic and VLF-EM survey across its land package, which surrounds the historic past-producing antimony mine. Hertz Energy initially acquired the property in September 2024 by staking 93 mineral claims covering 2,104.5 hectares, and subsequently expanded its technical database in January 2026. The 2026 summer field program will now advance through prospecting, geological mapping, rock geochemistry, and soil sampling.

Regional exploration activity in the surrounding district continues to draw attention, highlighted by Galway Metals Inc. having reported assay results from its Clarence Stream Gold Project including 2.0 g/t gold over 68.0 metres at the Southwest Deposit. Subject to positive results from preliminary fieldwork, Hertz Energy envisions ground IP surveying followed by up to 3,000 metres of diamond drilling later in the year at Lake George.

“The completion of this high-resolution airborne magnetic and VLF-EM survey represents an important milestone in advancing our Lake George Antimony-Tungsten-Gold Project. We have assembled one of the largest strategic land positions surrounding the Lake George Mine Lease, which Avenir Minerals, a newly created subsidiary of Agnico-Eagle, is in discussions with the Province of New Brunswick to revive, given the current demand for Antimony and Tungsten.” — Kal Malhi, CEO of Hertz Energy

Beyond New Brunswick, the company is planning surface work at its Agastya Lithium Project in James Bay, Quebec, and is preparing permitting, desktop data compilation, and an airborne magnetic survey at the Crag-Rod Silver Project in the Yukon ahead of a 2027 field season.

Read the full announcement: Hertz Energy Provides Update for Lake George Antimony-Tungsten Project, Agastya Lithium, and Crag-Rod Silver Project, and Announces Private Placement