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Abitibi Metals Announces Revised Bought Deal Financing

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LONDON, Ontario, March 28, 2025 (GLOBE NEWSWIRE) -- Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (FSE: FW0) ("Abitibi" or the "Company") has announced today that it has agreed to a revised bought deal financing further to its previous announcement on March 24, 2025. The revised offering is in response to the Province of Quebec 2025 expenditure budget announced on March 25, 2025, which introduced changes to the treatment of Quebec critical minerals flow-through tax credits.

Under the new agreement with a syndicate of underwriters led by BMO Capital Markets, the underwriters have agreed to buy on a bought deal basis 16,071,429 Charity Flow-Through Common Shares (the "Charity Flow-Through Common Shares"), at a price of C$0.45 per Charity Flow-Through Common Share and 8,928,571 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. The total issuance of 25,000,000 shares remains unchanged from the previous announcement on March 24, 2025.

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 ...