Rackla Metals Inc. has proposed a non-brokered private placement to raise gross proceeds of $3.65 million through the issuance of up to 10 million flow-through units priced at $0.365 each.

The financing is structured under the listed issuer financing exemption, meaning common shares issued in the offering will be freely tradeable and exempt from statutory hold periods. Each unit consists of one flow-through common share and one common share purchase warrant. The warrants allow holders to acquire non-flow-through common shares at an exercise price of $0.365 per share for 24 months following the completion of the offering.

Gross proceeds will be directed toward eligible Canadian exploration expenses at the company’s Lentung tungsten property in the western Northwest Territories. Rackla expects to incur these qualifying expenditures by December 31, 2027, and will renounce the amounts to participating investors with an effective date no later than December 31, 2026. The company may pay finder's fees consisting of 6% in cash and 6% in warrants carrying terms identical to those attached to the placement units.

Completion of the offering remains conditional upon receiving formal approval from the TSX Venture Exchange.

Rackla holds 100% ownership of the Lentung property following claim staking in late 2025. The 19,600-hectare site includes historical datasets from Union Carbide, which completed 26,900 metres of diamond drilling across 178 holes between 1977 and 1982. Operations at the property are governed by a five-year Type A Land Use Permit issued by the Sahtu Land and Water Board, which authorizes a 49-person camp and exploration drilling.

The financing proceeds will support the ongoing exploration season at Lentung, where the company deployed a dual-rig fleet in August 2026. Rackla’s active field program utilizes both diamond and reverse circulation drills and targets approximately 10,000 metres of total drilling before the end of the season.

Read the full announcement: Rackla Metals Announces $3.65 Million Non-Brokered Private Placement