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Abitibi Metals Announces C$10 Million Bought Deal Financing

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LONDON, Ontario, March 24, 2025 (GLOBE NEWSWIRE) -- Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (FSE: FW0) ("Abitibi" or the "Company") has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 12,500,000 Charity Flow-Through Common Shares (the "Charity Flow-Through Common Shares"), at a price of C$0.55 per Charity Flow-Through Common Share and 12,500,000 Common Shares (the "Common Shares"), at a price of C$0.28 per Common Share, for total gross proceeds of approximately C$10 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any.

Each Charity Flow-Through Common Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and, in respect of eligible Québec resident subscribers, section 359.1 of the Taxation Act (Québec).

The offering is expected to close on or about April 10, 2025 and is subject to Abitibi receiving all necessary regulatory approvals.

The gross proceeds from the Charity Flow-Through Common Shares will be used for continued advancement of the Company's B26 Polymetallic Deposit and the net proceeds from the Common Shares for general ...