Formation Metals Expands LIFE Offering to $8.6 Million

Formation Metals Inc. has announced an increase in its previously reported LIFE offering and private placement to $8.6 million. This funding will support the company's flagship N2 Gold Project in Quebec, which comprises a 20,000-metre multi-phase drill program. Phase 1, initiated in September 2025, focuses on the "A" and "RJ" zones. These areas contain significant historic gold resources and remain largely unexplored.

With the company's robust financial position, this capital increase will enhance their exploration budget to about $8.5 million. The LIFE Unit offering involves 17,847,838 units priced at $0.37 each, with additional financing elements including the FT Private Placement of up to $2 million.

The upsized offering is expected to fund various exploration projects and could further bolster Formation Metals' presence in North America. The project aims to explore new gold mineralization zones and evaluate the potential for copper and zinc.