Giga Metals Completes Second Tranche of Private Placement

Giga Metals Completes Second Tranche of Private Placement

Benzinga
August 14, 2025

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Giga Metals Corp. ("Giga" or "the Company") (TSXV:GIGA, OTCQB:GIGGF) is pleased to announce the closing of the second tranche of its non-brokered private placement financing announced on July 17, 2025 (the "Offering"). The Company had closed its first tranche on July 30, 2025.

The Offering consists of both flow-through units ("FT Units") and hard dollar units ("HD Units") In the second tranche of the Offering, the Company closed on 555,556 FT Units at a price of $0.09 per FT Unit for gross proceeds of $50,000; and 1,725,000 HD Units at a price of $0.08 per HD Unit for gross proceeds of $138,000.

Each FT Unit consists of one flow-through common share of the Company (each a "FT Share") and one common share purchase warrant (each a "FT Warrant"). Each HD Unit consists of one common share of the Company (each a "HD Share" and together with the FT Shares, the "Shares") and one common share purchase warrant (each a "HD Warrant" and together with the FT Warrants, the "Warrants"). Each warrant is exercisable at $0.11 for three years, expiring August 13, 2028. The securities issued have a hold period expiring 4 months plus one day after issuance, being December 14, 2025. Proceeds from the flow-through offering will be used to advance the Turnagain project and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units to incur eligible "Canadian exploration expenses" that will ...

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