J2 Metals Inc. Announces Closing of Flow-Through Private Placement
Rhea-AI Summary
J2 Metals (OTC:JTWOF) closed the second and final tranche of its non-brokered flow-through private placement, issuing 1,017,143 flow-through shares at $0.35 for $356,000. Total gross proceeds from both tranches reached $834,000, earmarked to advance the Miniac Project and for corporate purposes.
Positive
- Total flow-through financing proceeds of $834,000 from both tranches
- Second-tranche issuance of 1,017,143 flow-through shares at $0.35
- Proceeds allocated to explore and advance the Miniac Project
- Escrow release conditions satisfied April 28, 2026; securities now free of escrow
- Insider participation completed without exceeding 25% market cap threshold under MI 61-101
Negative
- Equity financing increases share count, creating potential dilution for existing holders
- Finder’s fees of $24,920 plus $7,719.60 reduce net cash proceeds
- Issuance of 64,330 warrants at $0.25 adds future potential dilution
- Flow-through private placement remains subject to TSX Venture Exchange acceptance
News Market Reaction – JTWOF
In the May 27 session, JTWOF declined 5.72%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - J2 Metals Inc. (TSXV: JTWO) (FSE: OO1) ("J2" or the "Company") announces that further to its previous press releases, it has closed the second and final tranche of its non-brokered flow-through private placement financing (the "FT Subscription Receipt Offering") through the issuance of 1,017,143 flow-through common shares (the "FT Shares") at a price of
The Company closed the first tranche of the FT Subscription Receipt Offering on February 23, 2026, for gross proceeds of
Each FT Share issued pursuant to the second tranche of the FT Subscription Receipt Offering will be issued on a flow-through basis pursuant to the Income Tax Act (Canada). No warrants will be issued in connection with the FT Subscription Receipt Offering.
In connection with the second tranche of the FT Subscription Receipt Offering, the Company paid finders fees in the aggregate of
The FT Subscription Receipt Offering is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. All securities issued pursuant to the second tranche of the FT Subscription Receipt Offering are subject to a hold period of four months and one day after the date of closing of the second tranche of the FT Subscription Receipt Offering. The net proceeds from the FT Subscription Receipt Offering will be used to explore and advance the Company's Miniac Project and for general corporate purposes.
Simon Clarke, a director of the Company, participated in the first tranche of the FT Subscription Receipt Offering by purchasing 100,000 FT Shares for an aggregate subscription amount of
In accordance with the Company's previously closed
About J2 Metals Inc.
J2 Metals Inc. (TSXV: JTWO) (FSE: OO1) is advancing gold and silver exploration projects with historical production or significant drill results in established mining jurisdictions in Mexico, Québec, and Alaska. The Company's Sierra Plata silver-gold-antimony project in Zacualpan, Mexico hosts multiple past-producing silver-gold mines, confirming its high-grade mineral endowment. Recent sampling of waste dumps at Sierra Plata returned grades of up to 3,932 g/t AgEq. At the Miniac Project in Québec's Abitibi Greenstone Belt, historical and Phase I drilling have confirmed strong discovery potential, with reported grades of up to 4.8 g/t gold and
Qualified Person
The technical information contained in this release has been reviewed and approved by Graham Giles, P.Geo., J2's VP Exploration, who is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For further information, please contact:
Thomas Lamb
CEO and Director
J2 Metals Inc.
E-Mail: info@j2metals.ca
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Company's exploration plans, potential drill targets, anticipated exploration results, and the timing and success of future exploration programs. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks and uncertainties include, but are not limited to, geological risk, exploration risk, fluctuations in commodity prices, operational risks, regulatory approvals, and general market and economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297567