April 16, 2025 – Vancouver, B.C. – Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF) (FSE:FW0) (“ Abitibi ” or the “ Company ”) is pleased to announce that, further to its previously announced bought deal public offering which closed on April 10, 2025 for total gross proceeds to the Company of $9,732,142. 93, the Company has issued an additional 2,055,000 common shares (the “Additional Shares ”) for additional gross proceeds of $575,400.00, pursuant to the partial exercise (the “Partial Exercise ”) of an over-allotment option granted to the Underwriters (as defined below). The net proceeds from the Additional Shares will be used for the continued advancement of the Company’s B26 Polymetallic Deposit and for general corporate purposes.
The Partial Exercise was completed pursuant to an underwriting agreement dated March 31, 2025 among the Company and a syndicate of underwriters led by BMO Capital Markets, as lead underwriter and sole bookrunner, together with Haywood Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Raymond James Ltd. and Stifel Nicolaus Canada Inc. (collectively, the “Underwriters ”).
The Additional Shares were offered in all provinces of Canada pursuant to a short form prospectus dated April 8, 2025.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall any sale of securities occur in any jurisdiction, including the United States, in which such offer, solicitation or sale is unlawful. The Additional Shares 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 securities laws of any state of the United States and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States, or unless an exemption from such registration requirements is available.
On behalf of the Board of Abitibi Metals Corp.
“Jonathon Deluce ”
President & CEO, Director
About Abitibi Metals Corp.
Abitibi Metals Corp. is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi’s portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit , which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq ( Ind – 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq ( Inf – 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag) 1 , and the Beschefer Gold Project , where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres ( BE13-038) and 13.07 g/t gold over 8.75 metres ( B12-014) amongst four modeled zones.
For more information, please contact Jon Deluce (President & CEO, Director) at 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.
Cautionary Notes and Forward-Looking Statements
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “ forward-looking statements ”). The use of the words “ will ” and “ expected ” and similar expressions are intended to identify forward-looking statements. These statements include statements regarding the use of proceeds of the Partial Exercise, the exploration and development potential of the Company’s properties and the significance of previous exploration results. Although Abitibi believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. The Company has based these forward-looking statements and information on the Company’s current expectations and assumptions about future events. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s annual information form, for the year ended December 31, 2024 available at www.sedarplus.ca under the Company’s issuer profile. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Abitibi does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.
Featured Image @ Freepik
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