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Hercules Metals Announces C$15 Million Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, July 28, 2025 (GLOBE NEWSWIRE) -- Hercules Metals Corp. (TSXV:BIG) (OTCQB:BADEF) (FRA: C0X) ("Hercules Metals" or the "Company") is pleased to announce it has entered into an agreement with Canaccord Genuity Corp. ("Canaccord Genuity") and BMO Capital Markets (collectively with Canaccord Genuity, the "Co-Lead Agents"), as co-lead agents and co-lead bookrunners, and on behalf of a syndicate of agents to be named (collectively with the Co-Lead Agents, the "Agents"), pursuant to which the Agents will offer for sale up to 21,430,000 common shares in the capital of the Company (the "Shares") at a price of C$0.70 per Share (the "Offering Price"), on a brokered private placement "best efforts" agency basis, for aggregate gross proceeds to the Company of up to C$15,001,000 (the "Offering"). The Company has also granted the Agents an option exercisable at any time up to the closing of the Offering, to offer for sale up to an additional 3,214,500 Shares at the Offering Price, for additional gross proceeds of up to C$2,250,150.

The Shares will be offered for sale by way of private placement pursuant to the listed issuer financing exemption under section 5A.2 of National Instrument 45-106, Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption") in each of the Provinces of Canada (other than the Province of Quebec), and in the United States pursuant to exemptions from the registration requirements of the U.S. Securities Act, and in those other jurisdictions outside of Canada and the United States provided that no prospectus, registration statement or similar document is required to be filed or no ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Shares issued under the Listed Issuer Financing Exemption will not be subject to a statutory hold period pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering for exploration and development of its 100% owned Hercules property in western Idaho (the "Hercules Property"), and for general working capital ...