Mogotes Metals Inc. has closed a share offering, issuing 39,186,369 common shares at $0.49 per share for gross proceeds of $19,201,320.81.

The financing allows CD Capital Fund IV L.P. to exercise subscription rights to increase its ownership interest in the company to 19.9% on a partially diluted basis, alongside participation by other shareholders exercising pre-emptive rights. Insiders purchased 36,689,414 common shares under the offering, constituting a related-party transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements.

Proceeds from the placement are earmarked for general corporate and working capital purposes. The newly issued common shares are subject to a four-month and one-day statutory hold period from the date of issuance.

CD Capital Fund IV L.P. previously became a shareholder in January 2026 following a C$19 million private placement, with founder and CEO Carmel Daniele joining the company's board of directors.

In the surrounding district, NGEx Minerals reported drill results from its Lunahuasi project in July 2026, including an interval of 20.50m at 17.83% copper equivalent.

Read the full announcement: Mogotes Metals Announces Closing of Exercise of Rights