Breaking News: AuMEGA Metals Successfully Completes Second Round of Private Placement Financing!

Overview

Edmonton, Alberta–(Newsfile Corp. – December 10, 2024) – AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) (formerly Matador Mining Ltd) (“AuMEGA” or “the Company”) is thrilled to announce the completion of the second and final closing of its recent financing, known as the “Tranche Two Placement.” This milestone follows shareholder approval at the Company’s Special Shareholder Meeting on December 4, 2024.

Details of the Financing

During the Tranche Two Placement, AuMEGA Metals issued a total of 128,035,776 ordinary shares, referred to as “New Shares,” to institutional, professional, and accredited investors. This resulted in aggregate gross proceeds of C$7.3 million. The breakdown of the financing includes:

• Hard Dollars: 65,236,111 New Shares at a price of C$0.050/A$0.054 per share.
• Flow Through: Consisting of “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada):
  • Traditional Flow Through: 34,299,666 New Shares at a price of C$0.06/A$0.065 per share.
  • Premium Flow Through: 28,500,000 New Shares at a premium flow through price of C$0.06825/A$0.07408 per share.

This Tranche Two Placement complements the previously announced first tranche closing (the “Tranche One Placement”), in which AuMEGA Metals issued 131,152,889 ordinary shares to institutional, professional, and accredited investors, resulting in aggregate gross proceeds of C$8.77 million.

How Will This Impact You?

This successful completion of the private placement financing by AuMEGA Metals can have a direct impact on shareholders and investors. With the increased capital raised through the issuance of new shares, the company can fund its operations, projects, and growth initiatives. Shareholders may potentially benefit from the company’s strengthened financial position and growth prospects.

How Will This Impact the World?

On a broader scale, the completion of the private placement financing reflects investor confidence in AuMEGA Metals and its strategic direction. This infusion of funds can support the company’s exploration and mining activities, potentially leading to advancements in the mining industry. Additionally, successful fundraising efforts by one company can inspire confidence in the sector as a whole, attracting more investment to support sustainable mining practices.

Conclusion

Overall, the successful completion of the second round of private placement financing by AuMEGA Metals signifies a significant milestone for the company and its stakeholders. With the additional capital raised, AuMEGA is well-positioned to drive growth, pursue strategic opportunities, and create value for its investors. This achievement also highlights the confidence of investors in the company’s vision and potential for future success.