Viridian Metals Inc. intends to raise up to $1,000,000 through a non-brokered private placement of units priced at $0.45 each.

Each unit comprises one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to buy an additional common share at $0.60 for a 24-month period following issuance. The company expects the offering to close on or about August 31, 2026, pending acceptance by the Canadian Securities Exchange.

Net proceeds are earmarked for an investor relations, corporate communications, and market awareness budget, alongside general corporate and working capital requirements. The securities issued under the placement will carry a statutory hold period of four months and one day, in addition to an exchange hold imposed by the exchange. Directors, officers and insiders may participate in the financing.

The funding supports ongoing work at the Kraken Project in Labrador, which serves as the primary property for Viridian Metals. The company is currently executing a 50-hole diamond drilling campaign along the Main Zone following earlier exploration work.

Drilling operations at the site are expected to continue until November 2026. Analytical results from the initial drill core submission of the current program are anticipated in the coming weeks.

In the surrounding district, Scandium Canada Ltd. closed a $5 million non-brokered financing in August 2026 to fund diamond drilling and exploration at its Crater Lake project.

“Viridian is entering an active period, with our 2026 drill program underway and drilling expected to continue at Kraken until November,” said Tyrell Sutherland, President and Chief Executive Officer of Viridian. “Our capital to date has been directed toward work on the ground. This financing is intended to fund our ongoing exploration and corporate programs and to broaden awareness of the Company among investors as that work progresses.”

— Tyrell Sutherland, President and Chief Executive Officer

Read the full announcement: Viridian Metals Announces $1.0 Million Private Placement