- Metal Energy (TSXV:MERG) will undertake an up to C$9.3 million financing, including participation from global miner Centerra Gold (TSX:CG)
- Metal Energy is a Canadian critical metals exploration company with a portfolio prospective for gold, silver, copper, molybdenum, cobalt, nickel, rhenium and platinum group elements
- The critical metals stock has added 188.89 per cent year-over-year
Critical metals explorer Metal Energy (TSXV:MERG) will undertake an up to C$9.3 million financing in two parts, including an issuance of 8.8 million premium flow-through shares priced at C$0.73 and an issuance of 6.2 million common shares priced at C$0.45.
Proceeds will go towards Metal Energy’s 2026 maiden drill program at its 12,500-hectare NIV copper, gold and molybdenum project in the Toodoggone district of British Columbia (BC). NIV delivered soil samples with highly anomalous copper, gold and molybdenum over a 3.7-kilometre strike length backed by stacked anomalies commonly found in porphyry discoveries.
Following the closing of the offering, global mining company Centerra Gold (TSX:CG) will own about 9.9 per cent of Metal Energy’s issued and outstanding shares. Centerra is focused on gold and copper from exploration to production across North America, Türkiye, and other strategic markets. Among its many operational highlights is its Kemess mine, only 32 km away from NIV, which is expected to produce a preliminary economic assessment in Q1 2026, substantiating a resource estimated at 2.7 million ounces of gold indicated and 2.2 million ounces inferred, plus 971 million pounds of copper indicated and 821 million pounds inferred, representing more than US$20 billion in commodities in the ground.
According to Thursday’s news release, the financing is expected to close by December 16, 2025.
Management commentary
“We are pleased to welcome Centerra Gold as a strategic investor in Metal Energy. Centerra’s involvement adds further technical depth to our work at NIV, which we consider one of the most compelling undrilled copper-gold porphyry opportunities in BC,” Stephen Stewart, chairman of Metal Energy, said in a statement. “Securing this financing on favourable terms from a respected industry leader with vast operational experience and regional presence through the Kemess asset underscores the quality of the NIV asset and the effort our team has put in to date. This marks an important milestone for Metal Energy and positions us to focus on our core objective, which is advancing drilling and pursuing a meaningful discovery.”
About Metal Energy
Metal Energy is a Canadian critical metals exploration company with a portfolio prospective for gold, silver, copper, molybdenum, cobalt, nickel, rhenium and platinum group elements.
Metal Energy stock (TSXV:MERG) last traded at C$0.52 and has added 188.89 per cent year-over-year.
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