Miata Metals Corp. has completed its combined C$25.2 million financing package, securing C$11.5 million through a bought deal public offering and C$13.7 million via a strategic investment from a subsidiary of La Mancha Resource Fund SCSp.

Under the arrangement, La Mancha acquired 33,468,442 common shares at C$0.41 per share, establishing a 19.9% non-diluted interest in the company. The strategic placement is governed by an investor rights agreement that subjects La Mancha to an 18-month share lock-up and a two-year standstill restricting its holding to a maximum of 25%. La Mancha also receives the right to nominate one director to the board while maintaining at least 10% ownership.

“We are extremely pleased to close these financings and welcome La Mancha as a significant strategic shareholder of Miata. Their investment, together with the strong institutional support for the bought deal, represents an important endorsement of our team, our exploration strategy and the opportunity we see at Sela Creek.”

“La Mancha brings deep technical, mine-development and capital-markets experience, and we believe their involvement adds meaningful strategic value as we move into the next phase of growth for the Company.”

— Dr. Jacob (Jaap) Verbaas, CEO

Miata holds a 70% interest in the approximately 215-square-kilometre Sela Creek Gold Project in Suriname, with an option to acquire the remaining 30% for full 100% ownership. Ground exploration and a 5,000-metre Phase 1 diamond drill program at the property commenced in February 2025.

To put this capital to work, Miata intends to deploy net proceeds from the financing to accelerate exploration and drilling across Sela Creek, fund technical studies, and advance project development activities. Meanwhile, regional activity in the surrounding district continues to draw attention, highlighted by Founders Metals Inc. intersecting 28.0 metres grading 14.27 g/t gold at the Upper Antino target in August 2026.

Read the full announcement: Miata Metals Closes C$25.2 Million Financing Including 19.9% Strategic Investment by La Mancha