Axo Metals Corp. Announces $50M Bought Deal Financing of Common Shares

(TSXV:AXO) Axo Metals Corp. has entered into an agreement with Desjardins Capital Markets and a syndicate of underwriters for a bought deal financing. The underwriters have agreed to purchase 51,021,000 common shares at a price of $0.98 per share, resulting in gross proceeds of approximately $50,000,000. The company has granted the underwriters an option to purchase up to an additional 15% of the offering, which, if fully exercised, would raise an additional $7,500,087, bringing total gross proceeds to approximately $57,500,667. The net proceeds from the offering are intended for exploration and advancement of the San Antonio Gold Project and La Huerta Project, as well as for general working capital purposes. The shares will be offered via a short form prospectus to be filed in all provinces of Canada except Québec, and may also be sold in other jurisdictions outside Canada where no prospectus filing or comparable obligation arises. The offering is scheduled to close on or about November 27, 2026, subject to conditions including receipt of all necessary approvals from the TSXV and securities regulatory authorities. The underwriters will receive a cash commission equal to 5.5% of the aggregate gross proceeds raised in the offering. The San Antonio project, located in Sonora, Mexico, is in advanced development and has total resources of 576,000 ounces of gold and 1.37 million ounces of silver grading 1.20 g/t Au and 2.9g/t Ag in the Indicated category, and 544,000 ounces of gold and 1.76 million ounces of silver grading 1.02 g/t Au and 3.3g/t Ag in the Inferred category across all deposit types. The La Huerta property in Jalisco, Mexico, is a new copper discovery with high grade copper identified at surface and at depth through initial drilling. Jonathan Egilo is the President and CEO of Axo Metals Corp.