PTX Metals upsizes private placement LIFE offering to $5.5 million
PTX Metals Inc. [PTX-TSXV] said it is upsizing a previously announced non-brokered private placement offering that is now expected to raise $5.5 million.
PTX is focused on advancing its two flagship projects, the W2 copper-nickel-platinum group elements property located in the Ring of Fire region of northern Ontario and the Shining Tree Gold project, which is situated near established gold mines in the Timmins, Ont., region.
The company recently announced plans to launch a work program at the W2 project that is expected to prepare the project for a directed-upcoming drill program.
In a press release on September 8, 2025, the company said it was planning to complete a non-brokered private placement of units priced at 10 cents, to raise aggregate gross proceeds of $1.5 million. It said each unit would consist of one common share and one half of one share purchase warrant, with each warrant entitling the holder to acquire one additional share for 16 cents for 36 months from the date of issuance.
It said the units to be issued under the offering would be offered to purchasers pursuant to the Lister Issuer Financing Exemption (the LIFE exemption) under Part 5A of National Instrument 45-106 – prospectus exemptions.
Concurrent with the offering, the company said it would complete a private placement (non-LIFE offering) consisting of (i) charity-flow through units (CFT units) priced at 15 cents each, raising gross proceeds of $1.5 million and (ii) flow through units (the FT Units) priced at 13.5 cents, to raise an additional $500,000. Each CFT unit and FT unit shall consist of one common share and one half of one warrant.
In a subsequent press release on September 16, 2025, the company said it had increased the size of the offering (the LIFE offering) from $1.5 million to $3.5 million, with a minimum offering of $2.0 million worth of hard dollar units.
As part of the LIFE offering, PTX said it would issue up to $1.5 million worth of charity flow-through units at an offering price of 15 cents per CFT unit.
The company also said it was proposing to complete a non-brokered offering (the non-life offering) of (i) flow-through units (FT units) priced at 13.5 cents to raise gross proceeds of up to $1.0 million and (ii) CFT units priced at 15 cents to raise gross proceeds of $500,000.
In its latest press release (September 28, 2025) the company said the maximum size of the offering being completed under the LIFE Exemption has been raised to $5.5 million from $3.5 million, while keeping a minimum offering of $2.0 million of HD units. There remains no minimum on the size of the offering of “charity flow-through units.’’ (CFT units).
In addition, the company said the Non-LIFE Offering has been amended, resulting in the removal of the charity flow-through component of the offering and increasing the maximum size of the offering of flow-though units (FT Units) from $1.0 million to $1.5 million.
PTX shares eased 4.0% or $0.005 to 12 cents. The shares trade in a 52-week range of 17 cents and $0.6.
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