Mogotes Metals is increasing its planned share issuance to up to 39,186,369 common shares at a price of $0.49 per share, targeting total proceeds of up to $19,201,320.81.

The financing supports CD Capital Fund IV L.P. in exercising its right to increase its ownership interest to 19.9% on a partially diluted basis, alongside participating shareholders exercising pre-emptive rights. The updated offering expands on previous subscription plans announced on July 14 and July 21, 2026, which initially targeted up to 38,558,817 common shares.

Closing of the conditional transaction remains subject to customary conditions, including the receipt of all necessary regulatory approvals and the acceptance of the TSX Venture Exchange. Shares issued under the placement will be subject to a hold period of four months plus a day from the issuance date.

Mogotes previously secured a US$15 million strategic investment from Rio Tinto Exploration Canada Inc. in July 2026 to fund exploration at Filo Sur under a proposed strategic and technical alliance.

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

Read the full announcement: Mogotes Metals Provides Additional Update on Exercise of Rights