SAGA Metals Announces Warrant Expiry Acceleration—Reports Over $675,000 of Warrant Money Exercised and Received since January 1, 2026
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- SAGA Metals Corp. ("SAGA" or the "Company") (TSXV:SAGA) (OTCQB:SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, announces today that it is electing to accelerate the expiry of outstanding common share purchase warrants of the Company issued in connection with a financing that closed in two tranches on May 23 and July 31, 2025 (the "May Financing") and a financing that closed on October 10, 2025 (the "October Financing"; together with the May Financing, the "Financings").
The Company issued an aggregate of 6,637,667 warrants and 163,146 finder's warrants (together, the "May Warrants") in connection with the May Financing. The Company also issued an aggregate of 555,750 finder's warrants (the "October Warrants"; together with the May Warrants, the "Warrants") in connection with the October Financing.
Mike Stier, CEO & Director of Saga Metals commented: "We are thrilled to accelerate the expiry of these warrants, which calls in approximately $3.6 million in additional funding from warrant exercises. This influx builds directly on the successful $9 million raised in Q4 2025, and over $675,000 brought in from warrant exercises since the start of the year, further bolstering our treasury and positioning the Company in the strongest financial position in its history. With a robust cash runway secured and major catalysts on the horizon throughout 2026—including key exploration results, project advancements, and potential partnerships—we are well-equipped to execute our strategy and deliver significant value to shareholders."
Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company's common shares on the TSX Venture Exchange (the "TSXV") equals or exceeds C$0.75 for 10 consecutive trading days (the "Acceleration Period"), to the date that is 30 days following the dissemination of a news release announcing the acceleration. As the closing price of the Company's common shares has equaled or exceeded C$0.75 per share over each of the last 10 trading days ended January 22, 2026 on the TSXV, the Company hereby provides notice of the Acceleration Period in accordance with the terms of the Warrants. The Company is exercising its right to accelerate the expiry of the Warrants issued under the Financings to 4:00 p.m. (Vancouver time) on February 21, 2026 (the "Accelerated Expiry Date"). Any Warrants remaining unexercised after the Accelerated Expiry Date will expire and be of no force and effect.
The securities offered pursuant to the Financings have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Radar Critical Mineral Property in Labrador, Canada
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