Metal Energy Corp. will raise approximately C$490,000 in gross proceeds through a share issuance to maintain the 9.9% equity interests held by strategic investors Centerra Gold Inc. and Teck Resources Limited under their respective investor rights agreements.

The conditional arrangement involves issuing 550,000 common shares at C$0.89 each, with no warrants or finder’s fees attached. Closing is expected on or before August 17, 2026, pending customary conditions including regulatory approvals and acceptance from the TSX Venture Exchange. Proceeds will fund general corporate and working capital requirements.

The company controls the NIV project, a fully permitted and drill-ready copper-gold-molybdenum asset in British Columbia’s Toodoggone District, where both Centerra Gold and Teck maintain their respective 9.9% strategic stakes. Metal Energy is advancing its maiden drill campaign on the property, having commenced a 6,000-metre program on June 29, 2026.

“We are grateful for the continued backing of Centerra and Teck as we work to unlock the potential of what NIV has to offer,”

“We are well into our first drill program on the property, testing what we think is one of the most promising undrilled porphyry targets in British Columbia. We like what we are seeing so far, and we are looking forward to the first set of assays.”

— Charlie Greig, CEO

The financing follows a larger December 2025 private placement that raised gross proceeds of C$9.25 million.

The stock is currently trading at $0.85, up 2.41% on August 11, 2026. Metal Energy anticipates releasing the first batch of assay results from the ongoing inaugural drill program.

Read the full announcement: Metal Energy Announces Additional Investment from its Strategic Investors