Viridian Metals Inc. has closed its previously announced non-brokered private placement, raising gross proceeds of $1,045,466.55 to fund its ongoing exploration and corporate programs as diamond drilling continues at the Kraken copper-nickel project in Labrador.

The financing delivered 2,323,259 units at a price of $0.45 per unit. Each unit comprises one common share and one-half of a common share purchase warrant, with whole warrants exercisable at $0.60 per share for 24 months. Insiders participated in the offering by subscribing for 371,133 units for gross proceeds of $167,009.85, representing approximately 15.97% of the private placement. Finder's fees totaled $31,903.20 in cash alongside 70,895 finder's warrants on the same terms. All securities issued are subject to a four-month and one-day statutory hold period alongside an Exchange Hold.

Alongside the financing close, Viridian reached an agreement with Independent Trading Group to provide market-making services on the Canadian Securities Exchange. The ITG agreement carries an initial one-month term renewable monthly, with a monthly fee of CAD$7,500 and no performance shares or options attached.

The Kraken Project in Labrador serves as Viridian's primary property, where an active diamond drilling campaign along the Main Zone is expected to continue until November 2026. Analytical results from the initial drill core submission are anticipated following ongoing assay processing. Viridian was previously selected for BHP's 2025 Xplor accelerator program, receiving a non-dilutive grant of approximately US$500,000 to advance geological modeling for its copper targets.

“Our financings to date have been focused on advancing our projects on the ground,” said Tyrell Sutherland, President and Chief Executive Officer of Viridian. “This financing strengthens our hard-dollar treasury as we enter an active period for the Company. With drilling continuing at Kraken and a steady flow of results ahead, we intend to enhance Viridian’s visibility and better communicate the results of our work.”

— Tyrell Sutherland, President and Chief Executive Officer

Read the full announcement: Viridian Metals Announces Closing of Non-Brokered Private Placement and Market Making Agreement with Independent Trading Group