Power Metallic Mines Initiates C$25 Million Brokered LifF Offering

Power Metallic Mines Inc., headquartered in Toronto, has announced a brokered private placement with Red Cloud Securities Inc. This initiative aims to raise up to C$25 million through the sale of 20 million common shares at C$1.25 each. Additionally, an option for agents to sell up to an additional 2.4 million shares could elevate proceeds by C$3 million.

The net funds are earmarked for advancing projects in Québec and Saudi Arabia, alongside general corporate purposes. The offering is aligned with pertinent Canadian securities legislation, enabling free trade within Canada.

The closure of this offering is slated for June 10, 2026, pending regulatory endorsements. While participation from U.S. investors is restricted under current securities law, a prospectus specifies conditions and stipulations for potential investors.