Power Metallic Mines Expands Marketed Offering to C$30 Million Amid Strong Demand

Power Metallic Mines Inc. has announced an increase in its brokered LIFE offering due to high investor interest. The company, in collaboration with Red Cloud Securities Inc., is boosting the gross proceeds from C$25 million to C$30 million. This revised offering will see the sale of up to 24 million common shares at C$1.25 each.

The company also offers agents a 48-hour option to sell an additional 2.4 million shares for potential extra proceeds of C$3 million. The net funds will support the NISK Project in Québec, the Jabul Baudan license in Saudi Arabia, and general purposes.

The offering, scheduled to close on June 10, 2026, is conditional on regulatory approvals. Shares will be available in Canada under the National Instrument 45-106 exemptions and may be sold privately in the US, subject to compliance with the US Securities Act.