Star Metro - Phoenix Metals Corp. Upsizes its Initial Public Offering and Files Final Base Prep Prospectus

VANCOUVER, BC / ACCESS Newswire / June 30, 2026 / Phoenix Metals Corp. ("Phoenix" or the "Company") is pleased to announce the upsize of its previously announced initial public offering (the "Offering") of Class A common shares of the Company (the "Common Shares") and the filing of the Company's final base PREP prospectus (the "Final Prospectus") with the securities regulatory authorities in each of the provinces of Canada, excluding Quebec. The Company now expects the Offering to raise aggregate gross proceeds of approximately $40,000,000. The number of Common Shares to be offered and the offering price per Common Share under the Offering will be determined in the context of the market.

The Company has also agreed to grant the Underwriters (as defined below) an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part at any time up to 30 days following the closing of the Offering, to purchase up to such number of additional Common Shares at the offering price representing 15% of the number of Common Shares issued pursuant to the Offering, to cover over-allotments, if any, and for market stabilization purposes. If the Over-Allotment Option is exercised in full, the Offering will raise aggregate gross proceeds of approximately $46,000,000.

The Offering is being conducted through a syndicate of underwriters co-led by Canaccord Genuity Corp. and National Bank Financial Inc., as joint-lead managers and joint bookrunners, and including Haywood Securities Inc. and RBC Dominion Securities Inc. (collectively, the "Underwriters").

The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the Common Shares (including the Common Shares to be distributed under the Offering) under the trading symbol "PCA". Listing is subject to the issuer fulfilling all of the requirements of the TSX.

The Final Prospectus contains important information relating to the Company, the Common Shares and the Offering. A supplemented PREP prospectus (the "Supplemented Prospectus") containing pricing information and other important information relating to the Company, the Common Shares and the Offering will be filed following the pricing of the Offering. A copy of the Final Prospectus is available, and a copy of the Supplemented Prospectus will, within two business days, be available, under the Company's profile on SEDAR+ at www.sedarplus.ca. Access to the Final Prospectus and, following the pricing of the Offering and filing thereof, the Supplemented Prospectus, is provided in accordance with securities legislation relating to procedures for providing access to a base PREP prospectus and a supplemented PREP prospectus, respectively. An electronic or paper copy of the Supplemented Prospectus and any amendment may also be obtained, without charge, from Canaccord Genuity Corp. by email at [email protected] or from National Bank Financial Inc. by email at [email protected], by providing the contact with an email address or address, as applicable.

No securities regulatory authority has reviewed or approved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in any jurisdiction in which the offering, solicitation or sale is not permitted, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction prior to the time a receipt for the Final Prospectus is obtained from the relevant securities regulatory authorities in Canada.

The securities 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 state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act), unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.

About Phoenix Metals Corp.

Phoenix Metals Corp. is a Canadian mineral exploration company focused on the exploration and development of gold-copper deposits in south-central British Columbia. The Company's principal asset is the Greenwood Project, comprising the Lexington, Golden Crown, Blue Bell, Phoenix, Tam O'Shanter, and Boundary Falls and Haas Creek properties located between the Towns of Greenwood and Grand Forks, British Columbia, and consisting of 156 active mineral claims, four mining leases, and 211 Crown Granted parcels.

ON BEHALF OF PHOENIX METALS CORP.

Chris Lodder
Chair of the Board of Directors

For Further Information Please Contact:

Carly Church
Chief Operating Officer
Phone: (604)-220-0404
Email: [email protected]

Forward Looking Information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the size of the proposed Offering, including the potential exercise of the Over-Allotment Option, the Supplemented Prospectus, and the listing of the Common Shares on the TSX.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, readers should not place undue reliance on any of these forward-looking statements.

Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: failure to complete the Offering, failure to fulfil the conditions set out in the TSX conditional approval letter, economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets, continued volatility in the capital markets, the adequacy of the Company's current working capital and the ability of the Company to raise additional funds as required, the occurrence of hostilities, political instability or catastrophic events, developments and changes in laws and regulations, including increased regulation of the mineral exploration and development industries through legislative and other regulator action, closures or slowdowns and changes in labour costs and labour difficulties, including affecting any future exploration or development of the Company's projects, the inability of the Company to expand or identify additional mineral resources on its assets, failure to convert any estimated mineral resources to reserves, the inability of the Company to complete a feasibility study which recommends a production decision, the uncertainty inherent in any future exploration or other results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals necessary for the Company's business plans, and other risks inherent in the mineral exploration and development industry, and other factors discussed under "Risk Factors" in the Final Prospectus.

Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.

SOURCE: Phoenix Metals Corp.

View the original press release on ACCESS Newswire

M.Anderson--SMC