Sun Peak Metals Corp. has launched a non-brokered private placement offering to raise gross proceeds of up to $5,000,000 through the issuance of up to 12,500,000 units priced at $0.40 each.

Each unit consists of one common share and one-half of one common share purchase warrant. Every whole warrant allows the holder to buy an additional common share at $0.55 for two years from the closing date. The warrants are subject to an accelerated expiry provision if the volume-weighted average price of the shares on the TSX Venture Exchange equals or exceeds $1.10 for ten consecutive trading days.

The net proceeds will fund exploration across the company’s projects in the Kingdom of Saudi Arabia and Ethiopia, cover offering expenses, and support general working capital requirements. All securities issued under the offering will carry a four-month and one-day statutory hold period.

The financing remains subject to customary closing conditions, including the receipt of all necessary regulatory approvals and the formal acceptance of the TSX Venture Exchange. Finder’s fees may apply to the placement, with terms to be disclosed at a later date.

Sun Peak expanded into Saudi Arabia through the acquisition of Saudi Discovery Company in December 2025, securing 13 exploration licences covering 1,072 square kilometres to complement its Shire Project in Ethiopia. Following regional mapping, geochemical sampling, and geophysical surveys, the company completed maiden diamond drilling programs at its Safra and Halahila projects in Saudi Arabia during the first half of 2026.

Read the full announcement: Sun Peak Announces Non-Brokered Private Placement